
Wheat is showing slight strength on Tuesday morning. The wheat complex started the week with losses across the three markets on Monday. Chicago SRW futures were 2 ¾ to 7 ½ cents lower. Open interest was down 1,680 contracts on Monday. KC HRW futures were fractionally to 3 cents in the red. OI slipped 3,526 contracts. MPLS spring wheat was mixed, with front months fractionally to a penny lower and deferreds slightly higher. Pressure was from a President Trump post ordering the Department of War to postpone some military strikes on Iran.
The Kansas Crop Progress report showed winter wheat conditions down 6% to 46% good/excellent, with the Brugler500 index down 11 points to 328.