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Barchart
Barchart
Austin Schroeder

UNCOVERED: Wheat slipping lower into tuesdays midday | History Defined

Chicago SRW KC HRW MPLS CBOT Wheat KCBT Wheat MIAX Wheat

Wheat is trading with mostly lower action on Tuesday. Chicago SRW contracts are 5 to 8 cents in the red so far on the session. KC HRW futures are down 9 to 10 ½ cents in the front months. MPLS spring wheat is showing fractionally mixed trade at midday.

This week’s NASS Crop Progress report showed 96% of the US winter wheat crop harvested by Sunday, 2% ahead of the normal pace. The spring wheat crop was 41% harvested, ahead of the 34% 5-year average pace. Spring wheat conditions were up 1% at 52% gd/ex, with the Brugler500 index back up 5 points to 344. The only states with dropping conditions were MT (-3) and WA (-5), with ID (+8), ND (+5), MN (+4) seeing improvement.

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