Wheat is showing 3 to 5 cent gains so far on Wednesday morning. The wheat complex found late session strength on Tuesday. Chicago SRW contracts were 3 ¼ to 7 ¼ cents in the green on the day. Open interest rose 3,610 contracts on Tuesday. KC HRW futures were 1 ¼ to 4 ¾ cents higher at the close. There were 4 deliveries against July futures overnight. MPLS spring wheat was up 1 ¼ to 4 ½ cents in most contracts, as nearby July was 11 ½ cents higher.
NASS Crop Progress data showed 59% of the US winter wheat crop harvested by Sunday, 8% ahead of normal. Conditions were steady at 26% gd/ex, with the Brugler500 index up 1 point to 262. That was the final rating for the crop. The average of the major HRW states was at 209, with SRW states at 360.
