The wheat complex posted mixed trade on Monday, with winter wheats holding firm and spring wheat slipping lower. Chicago SRW contracts saw fractional to 4 cent gains on the day. KC HRW futures were mostly fractionally to 2 ¾ cents higher, with September down ½ cent. MPLS spring wheat was 1 ¼ to 9 ½ 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.
