Wheat Posting Tuesday Strength
The wheat complex is trading with Tuesday midday gains across the three markets. Chicago SRW are trading with 3 to 5 cent gains in the nearby contracts. KC HRW futures are up 4 to 6 cents in the front months on the day. MPLS spring wheat is fractionally to 2 cents higher at midday.
NASS Crop Progress data showed 92% of the US winter wheat crop headed by Sunday, 7% ahead of normal. Harvest was pegged at 11%, faster than the 6% average pace. Conditions were down 1% to 25% gd/ex, with the Brugler500 index down 6 to 263. The spring wheat crop was 98% planted, 3% ahead of normal, with emergence at 87% and 7% faster than average. Spring wheat conditions were 52% gd/ex, up 5%, with the Brugler500 rising 7 points to 350.
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The European Commission estimates the EU wheat export total from July 1 to June 7 at 22.05 MMT, 1.53 MMT above the same period last year.
Jul 26 CBOT Wheat is at $5.88, up 4 3/4 cents,
Sep 26 CBOT Wheat is at $5.99 1/4, up 3 1/2 cents,
Jul 26 KCBT Wheat is at $6.35 1/4, up 5 1/2 cents,
Sep 26 KCBT Wheat is at $6.44 1/4, up 4 1/2 cents,
Jul 26 MIAX Wheat is at $6.20, up 1/2 cent,
Sep 26 MIAX Wheat is at $6.47, up 2 cents,
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.
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