The wheat complex is mostly lower on Tuesday, with spring wheat holding steady. CBT soft red wheat futures are 4 to 5 cents lower so far on the day. KC HRW futures are falling 6 to 7 cents, with September holding at $5. MPLS spring wheat is trading with fractional gains across the front months.
Crop Progress data from USDA showed the US winter wheat 94% harvested, with 95% the normal harvest pace. The spring wheat harvest was 36% complete, behind the even with the 5-year average. Conditions were listed at 50% gd/ex, up 1%, with the Brugler500 index back up 2 points at 333.
The European Commission estimates the EU soft wheat exports at 1.78 MMT from July 1 to August 17, which is less than half of the 3.76 MMT in the same period last year.
Sep 25 CBOT Wheat is at $4.98 1/4, down 4 1/2 cents,
Dec 25 CBOT Wheat is at $5.20 1/4, down 4 3/4 cents,
Sep 25 KCBT Wheat is at $5.00, down 6 1/4 cents,
Dec 25 KCBT Wheat is at $5.21 3/4, down 6 1/2 cents,
Sep 25 MGEX Wheat is at $5.68 1/2, up 3/4 cent,
Dec 25 MGEX Wheat is at $5.87, up 3/4 cent,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
