Wheat is showing 5 to 7 cent losses across the three markets on Tuesday morning. The wheat complex was higher at the final bell on Monday. Chicago SRW contracts were 10 to 12 1/4 cents higher at the close. KC HRW futures were 9 3/4 to 11 3/4 cents in the green on the day. Open interest was up 6,606 contracts implying some increased long interest. MPLS spring wheat was 2 ½ to 5 1/2 cents higher on Monday.
Weekly NASS Crop Progress data showed 86% of the US winter wheat crop harvested by Sunday, now matching the normal pace. The spring wheat crop was 98% headed, 1% ahead the 5-year average pace, with 5% of the crop harvested. Spring wheat conditions were up 2% at 55% gd/ex, with the Brugler500 index up 6 points higher to 348.
