The wheat complex is in retreat mode on Wednesday, with contracts lower across most exchanges. Chicago SRW contracts are down 14 to 17 cents at midday. KC HRW futures are falling back 9 to 11 cents. MPLS spring wheat is down 3 to 4 cents on the day.
The weekly NASS Crop Progress report showed 86% of the US spring wheat crop harvested by Sunday, 3% ahead of the normal pace. The winter wheat crop was lagging the 5 year average for planting pace, by 3 percentage points at 2% complete.