Wheat is starting off Wednesday with weakness, as contracts are down 2 to 4 cents. The wheat complex saw weakness across the board on Tuesday. Chicago SRW contracts closed the day with losses of 2 ½ to 4 ¼ cents. Open interest was up just 523 contracts on Tuesday. KC HRW futures were 2 ½ to 3 ¼ cents in the red on Tuesday. MPLS spring wheat saw losses of 2 ¼ to 5 ½ cents at the close.
Weekly NASS Crop Progress data showed 51% of winter wheat crop was planted as of Sunday, lagging the 5 year average for planting pace by 7 percentage points. Emergence was at 27%.
