The wheat complex is posting losses across most contracts at midday. Chicago SRW futures are down 6 to 7 cents at midday. KC HRW futures are slipping 6 to 7 cents at midday. There were 91 deliveries issued against March KC wheat overnight. MPLS spring wheat is down 4 to 5 cents in the front months.
The Kansas Crop Progress report from Tuesday afternoon showed winter wheat conditions at 58% good/excellent, or 353 on the Brugler500 index. That was down from 61% gd/ex (359) in early February.
Export Sales data will be released on Thursday morning, as traders are expecting to see net wheat sales totaling 200,000 to 500,000 MT for the week ending on February 26. New crop business is estimated in a range of 0-100,000 MT.
Mar 26 CBOT Wheat is at $5.69 1/4, down 3 cents,
May 26 CBOT Wheat is at $5.68 1/4, down 5 3/4 cents,
Mar 26 KCBT Wheat is at $5.57 1/4, down 13 1/4 cents,
May 26 KCBT Wheat is at $5.72 1/4, down 6 cents,
Mar 26 MIAX Wheat is at $6.01 1/4, up 3 3/4 cents,
May 26 MIAX Wheat is at $6.09, down 4 1/4 cents,
