The wheat complex is continuing the pullback into Tuesday trade. Chicago SRW wheat is 1 to 2 cents lower in the nearbys on Tuesday, with the nearby July an exception. KC HRW contracts are showing 3 to 5 cent losses across most contracts on Tuesday. There were 8 deliveries issued for July KC wheat overnight. MPLS spring wheat is trading with 8 to 11 cent losses at midday.
USDA’s Crop Progress data showed the US winter wheat crop at 53% harvested, behind the 53% average. Conditions were unchanged at 48% gd/ex as the Brugler 500 index was up 2 points to 331. The spring wheat crop was 61% headed, ahead of the 58% average. Spring wheat conditions were down 3% to 48% gd/ex, with the Brugler500 index down 8 to 337.
