The wheat market is showing stronger trade on Tuesday with gains led by the winter wheat contracts. CBT soft red wheat futures are 8 to 9 ¼ cent gains across most nearbys. KC HRW futures are trading with 7 to 8 cent gains across the front months at midday. MPLS spring wheat futures are up 1 to 2 ¼ cents across most contracts on Tuesday.
Crop Progress data showed the US winter wheat crop at 20% planted, down 3 points from average. Emergence was listed at 4%, on par with average. Spring wheat was 96% harvested and matches the 5-year average pace.
The European Commission estimates the EU wheat exports from July 1 to September 21 at 4.12 MMT, a drop from the 6.13 MMT in the year prior. Algeria purchased a chuck of wheat in a tender this morning, though the total purchased amount has yet to be reported.
Dec 25 CBOT Wheat is at $5.20, up 9 1/4 cents,
Mar 26 CBOT Wheat is at $5.38 1/4, up 8 3/4 cents,
Dec 25 KCBT Wheat is at $5.10, up 7 3/4 cents,
Mar 26 KCBT Wheat is at $5.30 3/4, up 7 cents,
Dec 25 MGEX Wheat is at $5.66 1/4, up 2 1/4 cents,
Mar 26 MGEX Wheat is at $5.85 3/4, up 1 1/4 cents,
