The wheat complex is showing mixed action so far, with the spring wheat leading the way higher. Wheat was under pressure on Tuesday, with losses across the three markets. Chicago SRW futures were 5 ¼ to 8 cents lower on the day. KC HRW futures were 6 ¼ to 9 ¾ cents in the red at the close. Open interest suggested new selling interest, up 6,492 contracts on Tuesday. MPLS spring wheat was down 7 to 10 cents in the front months on Tuesday. Crude was up $2.52 on the day.
The next week looks dry for much of the Plains from NE to TX, with much of SRW country remaining dry with scattered precip.
