The wheat complex is trading with midday losses across the three exchanges. Chicago SRW contracts is down 9 to 10 cents so far on the day. KC HRW futures are falling 9 to 10 cents lower across the front months. MPLS spring wheat is 10 to 11 cents lower across most contracts.
This week’s NASS Crop Progress report showed 91% of the US winter wheat crop harvested by Sunday, now matching the normal pace. The spring wheat crop was 24% harvested, ahead of the 19% 5-year average pace. Spring wheat conditions were down 4% at 51% gd/ex, with the Brugler500 index dropping 9 points to 339. Much of that same in MT (-14), SD (-6), ND/WA (-4), and MN (-1), with ID improving 14 points.
