Wheat is falling lower on so far on Tuesday’s midday. Chicago SRW futures are 5 to 7 cents in the red so far. KC HRW futures are 8 to 10 cents lower at midday. MPLS spring wheat is down 5 to 6 cents in the front months on Tuesday.
The next week looks dry for much of the Plains from NE to TX, with much of SRW country remaining dry with scattered precip.
The Kansas Crop Progress report showed winter wheat conditions down 4% to 52% good/excellent, with the Brugler500 index down 9 points to 339.
EU wheat production was estimated at 142.6 MMT according to Coceral, down 1.3 MMT from the previous estimate. The European Commission estimates the EU wheat exports at 16.77 MMT from July 1 to March 15, up 1.23 MMT from the same period last year.
May 26 CBOT Wheat is at $5.91, down 6 1/4 cents,
Jul 26 CBOT Wheat is at $6.02 1/4, down 5 1/2 cents,
May 26 KCBT Wheat is at $6.06 3/4, down 9 3/4 cents,
Jul 26 KCBT Wheat is at $6.21 3/4, down 8 3/4 cents,
May 26 MIAX Wheat is at $6.28 3/4, down 5 1/4 cents,
Jul 26 MIAX Wheat is at $6.43 1/4, down 5 1/4 cents,
