Wheat is showing mixed trade, with SRW contracts the strongest and KC the weakest so far on Tuesday morning. The wheat complex posted Monday gains, despite a weaker export data. Spillover support from the corn and beans was supportive. Chicago SRW contracts were 11 3/4 to 15 1/2 cents higher on Monday. Open interest was up 2,692 contracts on Monday. There were 3 deliveries against Chicago wheat overnight, with 1 against July KC wheat. KC HRW futures were up 7 ½ to 12 ¾ cents at the close. OI rose 5,693 contracts. MPLS spring wheat was 8 ½ to 11 ¼ cents higher on the day.
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 spring wheat crop was 54% headed, in line with the 5-year average pace. Spring wheat conditions were 57% gd/ex, down 2%, with the Brugler500 index 1 point lower to 354.
