Wheat is showing 2 to 6 cent gains across the three exchanges on Tuesday morning. The wheat complex was mixed on Monday, with the winter wheat firmer. Chicago SRW futures saw strength of 1 to 3 ¼ cents across most contracts on Monday. Open interest was down 14,570 contracts, with 21,098 contracts leaving July. KC HRW futures were up 2 ¼ to 9 cents at the close. Open interest was down 5,637 contracts. MPLS spring wheat was steady to 3 ½ cents in the red at the close.
NASS Crop Progress data showed 92% of the US winter wheat crop headed by Sunday, 7% ahead of normal. Harvest was pegged at 11%, faster than the 6% average pace. Conditions were down 1% to 25% gd/ex, with the Brugler500 index down 6 to 263. The spring wheat crop was 98% planted, 3% ahead of normal, with emergence at 87% and 7% faster than average. Spring wheat conditions were 52% gd/ex, up 5%, with the Brugler500 rising 7 points to 350.
