Wheat is kicking off Tuesday trade with modest losses of fractionally to 5 cents. The wheat complex was mostly lower on Monday, with winter wheat falling and spring wheat holding up. Chicago SRW contracts were 4 1/4 to 8 3/4 cents in the red at the close. Open interest was up 5,381 contracts. KC HRW futures were down 4 1/4 to 8 1/2 cents. OI was up 7,234 contracts on Monday. MPLS spring wheat was firmer, with fractional gains in the front months and deferred steady to 2 ½ cents lower.
NASS Crop Progress data showed 74% of the US winter wheat crop harvested by Sunday, 3% ahead of normal. The spring wheat crop was 86% headed, 1% ahead of the 5-year average pace. Spring wheat conditions were 53% gd/ex, down 5%, with the Brugler500 index 6 points lower to 345.
