Wheat is starting off the midweek session with contracts 5 to 7 cents gains. The wheat complex posted mixed trade on Tuesday. Chicago SRW was up fractionally to 4 cents in the front months, with deferreds 1 ¼ to 6 ½ cents lower. Open interest was up 181 contracts on Tuesday. KC HRW futures posted 1 ¼ to 3 3/4 cent gains at the close. OI was up just 751 contracts. MPLS spring wheat slipped 2 ½ to 3 ¾.
This week’s NASS Crop Progress report showed 27% of winter wheat crop was planted as of Sunday, lagging the 5 year average for planting pace by 7 percentage points. Emergence was at 8%.
