The wheat complex posted strength across the three exchanges on Tuesday. Chicago SRW futures were 7 1/2 to 10 cents higher on the day. KC HRW futures led the way with gains of 18 1/2 to 20 1/4 cents on the day. MPLS spring wheat was up 11 to 113 1/2 cents on the day.
Crop Progress data showed winter wheat at 11% headed as of Sunday, compared to the 5-year average of 7%. Condition ratings were down 1 point to 34% good/excellent, with the Brugler500 index slipping 3 points to 295. Kansas ratings were down 20 points on the Brugler500, with NE ratings down 18 points and TX losing 7 points.
Spring wheat was listed at 6% planted, now lagging the 7% average pace.
The next 7 days are expected to remain dry from the western part of KS, to the panhandle of TX according to the NOAA 7-day QPF. SRW area is still expected to see 1 to 3 inches.
May 26 CBOT Wheat closed at $5.92, up 9 3/4 cents,
Jul 26 CBOT Wheat closed at $6.01 1/4, up 10 cents,
May 26 KCBT Wheat closed at $6.22 3/4, up 19 1/2 cents,
Jul 26 KCBT Wheat closed at $6.36 1/4, up 19 3/4 cents,
May 26 MIAX Wheat closed at $6.38, up 13 1/2 cents,
Jul 26 MIAX Wheat closed at $6.52, up 12 3/4 cents,
