The wheat complex weakness leaked into the Tuesday trade, closing mostly lower across the three markets. Chicago SRW wheat was fractionally lower in most contracts. KC HRW contracts were 5 to 6 cents in the red on Tuesday. MPLS spring wheat saw losses of 6 to 8 cents at the close.
USDA’s Crop Progress data showed the US winter wheat crop at 53% harvested, behind the 54% average. Conditions were unchanged at 48% gd/ex as the Brugler 500 index was up 2 points to 331. The spring wheat crop was 61% headed, ahead of the 58% average. Spring wheat conditions were down 3% to 48% gd/ex, with the Brugler500 index down 8 to 337. By state, MN was down 8, with ND falling 4 points.
EU wheat exports are estimated at 20.33 MMT according to the European Commission from July 1 of last year to June 30, down from 31.07 MMT last year. Sovecon estimates the Russian wheat export total at 42.9 MMT, up 2.1 MMT from their previous number.
Jul 25 CBOT Wheat closed at $5.43, up 3 1/4 cents,
Sep 25 CBOT Wheat closed at $5.47 3/4, down 3/4 cent,
Jul 25 KCBT Wheat closed at $5.03 1/2, down 5 cents,
Sep 25 KCBT Wheat closed at $5.22 1/2, down 5 cents,
Jul 25 MGEX Wheat closed at $6.13, down 7 ¾ cents,
Sep 25 MGEX Wheat closed at $6.29 3/4, down 7 1/2 cents,
