Wheat is extending the mixed trade to Tuesday, with Chicago the weaker of the three exchanges. The wheat complex saw mixed action to close out the Monday session. Chicago SRW contracts saw fractionally mixed trade on Monday. Open interest was down 4,076 contracts on Monday. KC HRW futures were up a penny to 4 ¼ cents at the close. MPLS spring wheat was down 1 ¼ to 3 ¼ cents in the front months.
This week’s NASS Crop Progress report showed 96% of the US winter wheat crop harvested by Sunday, 2% ahead of the normal pace. The spring wheat crop was 41% harvested, ahead of the 34% 5-year average pace. Spring wheat conditions were up 1% at 52% gd/ex, with the Brugler500 index back up 5 points to 344.
