The wheat complex posted strength on Monday, with all three exchanges higher as tensions in the Black Sea filed to cool off over the weekend. Chicago SRW saw gains of 5 ¾ to 12 ¾ cents across the board. KC HRW futures were up 4 to 10 3/4 cents. MPLS spring wheat was 4 ½ to 5 ¾ cent gains on the session.
This week’s NASS Crop Progress report showed 96% of the US spring wheat crop harvested by Sunday, even with the average pace. The winter wheat crop was lagging the 5 year average for planting pace by 4 percentage points at 17% complete. Emergence was at 2%.
