The wheat complex is showing gains across most contract son Tuesday, with the three exchanges higher. Chicago SRW futures are 5 to 6 on the day. KC HRW futures are 16 to 17 cents in the green on the day. MPLS spring wheat are up 10 to 11 cents on the day.
Crop Progress data showed winter wheat at 11% headed as of Sunday, compared to the 5-year average of 7%. Condition ratings were down 1 point to 34% good/excellent, with the Brugler500 index slipping 3 points to 295. Kansas ratings were down 20 points on the Brugler500, with NE ratings down 18 points and TX losing 7 points.
Spring wheat was listed at 6% planted, now lagging the 7% average pace.
The next 7 days are expected to remain dry from the western part of KS, to the panhandle of TX according to the NOAA 7-day QPF. SRW area is still expected to see 1 to 3 inches.
May 26 CBOT Wheat is at $5.87 1/4, up 5 cents,
Jul 26 CBOT Wheat is at $5.96 1/2, up 5 1/4 cents,
May 26 KCBT Wheat is at $6.19 1/2, up 16 1/4 cents,
Jul 26 KCBT Wheat is at $6.32 1/2, up 16 cents,
May 26 MIAX Wheat is at $6.35, up 10 1/2 cents,
Jul 26 MIAX Wheat is at $6.49 1/4, up 10 cents,
