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Barchart
Barchart
Austin Schroeder

Wheat Faces Modest Tuesday Weakness, with Export Drag Continuing

The wheat complex saw weakness across the board on Tuesday. Chicago SRW contracts closed the day with losses of 2 ½ to 4 ¼ cents . KC HRW futures were 2 ½ to 3 ¼ cents in the red on Tuesday. MPLS spring wheat saw losses of 2 ¼ to 5 ½ cents at the close.

Weekly NASS Crop Progress data showed 51% of winter wheat crop was planted as of Sunday, lagging the 5 year average for planting pace by 7 percentage points. Emergence was at 27%.

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