Wheat is showing slightly stronger trade across the three exchanges so far on Wednesday, with all three higher. The wheat complex fell lower on Tuesday across all three markets. CBT soft red wheat futures were 3 to 4 1/4 cents lower on the day. KC HRW futures fell 6 to 7 cents. Both the September winter wheat contracts closed below the $5 mark. MPLS spring wheat was 2 to 3 cents lower across the front months. US prices are competitive on the world market, and recent Export Sales reports have shown the business, though the market has had a muted reaction.
Crop Progress data from USDA showed the US winter wheat 94% harvested, with 95% the normal harvest pace. Spring wheat conditions were listed at 50% gd/ex, up 1%, with the Brugler500 index back up 2 points at 333. The improvement was noted in ND, up 3 points, with ID 2 points higher. Deterioration was seen in MN, down 5 points, with SD down 2.
