Wheat is trading with losses across the three markets on Tuesday morning. The wheat complex fell on Monday, coming out of the long weekend on a sour note. Chicago SRW wheat was down 8 to 9 cents. Preliminary open interest rose 7,821 contracts on Monday. KC HRW contracts posted 8 to 10 cent losses on Monday. There were 8 deliveries issued for July KC wheat overnight. MPLS spring wheat was 9 to 10 cents lower to kick off the week.
USDA’s Crop Progress data showed the US winter wheat crop at 53% harvested, behind the 53% average. Conditions were unchanged at 48% gd/ex as the Brugler 500 index was up 2 points to 331. The spring wheat crop was 61% headed, ahead of the 58% average. Spring wheat conditions were down 3% to 48% gd/ex, with the Brugler500 index down 8 to 337.
