The wheat complex is trading with losses across three markets. Chicago SRW futures are down 11 to 14 ¾ cents at midday. KC HRW futures are 7 to 9 cents in the red on Tuesday. There were 39 deliveries noted for May KC wheat overnight. MPLS spring wheat are 5 to 7 cents in the red at midday.
Crop Progress data showed the US spring wheat crop at 32% planted, now 3 percentage points behind the pace from the last 5 years (35%). Emergence was pegged at 10%. The winter wheat crop was at 49% headed, which was 17 percentage points head of normal. Condition ratings were up 1% to 31% gd/ex, though a 2% increase in poor/very poor ratings was also noted. Brugler500 index was down 1 point to 286.
Portions of KS are expected to see 1 to 2 inches of precip over the next 7 days, with north central and south central portions of the state seeing very little precip. The rest of the HRW are is dry with exception to CO, with SRW seeing 1 to 3 inches.
Monthly Census trade data saw a total of 1.821 MMT of wheat shipped in March, up 1.24% from last year and 6% below February.
May 26 CBOT Wheat is at $6.14 3/4, down 14 3/4 cents,
Jul 26 CBOT Wheat is at $6.27 1/4, down 13 3/4 cents,
May 26 KCBT Wheat is at $6.73 1/2, down 9 cents,
Jul 26 KCBT Wheat is at $6.87, down 7 1/2 cents,
May 26 MIAX Wheat is at $6.82 3/4, down 5 1/2 cents,
Jul 26 MIAX Wheat is at $6.92 1/4, down 6 3/4 cents,
