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Austin Schroeder

Wheat Rally Extends to Tuesday

Chicago SRW KC HRW MPLS KCBT MIAX TX

The wheat complex posted strength across the three exchanges on Tuesday. Chicago SRW futures were 7 1/2 to 10 cents higher on the day. KC HRW futures led the way with gains of 18 1/2 to 20 1/4 cents on the day. MPLS spring wheat was up 11 to 113 1/2 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.

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