Wheat is showing 3 to 5 cent losses across most contracts. The wheat complex was lower across the three exchanges. Chicago SRW contracts were fractionally to 5 cents lower on the day. Open interest was up 6,116 contracts on Monday. KC HRW futures were down 4 ¼ to 10 cents at the close. OI dropped 2,160 contracts on Monday. There were 30 delivery notices against July overnight. MPLS spring wheat was steady to 4 ¾ cents lower, with September up ¾ cent. July futures expire on Tuesday.
NASS Crop Progress data showed 67% of the US winter wheat crop harvested by Sunday, 6% ahead of normal. The spring wheat crop was 72% headed, in line with the 5-year average pace. Spring wheat conditions were 58% gd/ex, up 1%, with the Brugler500 index 3 points lower to 351.
