The wheat market are adding to Monday’s weakness, with Tuesday losses. Chicago contracts are down 10 to 12 1/2 cents. Kansas City futures are 8 to 9 cents lower at the midday part of the session. MPLS spring wheat is 8 to 9 cents in the red.
Weekly Crop Progress data showed 83% of the US winter wheat crop headed, 5% above normal, with harvest now at 6% complete, faster than the 3% average. Condition ratings were up 1% to 49% gd/ex, taking the Brugler500 index back up 2 points to 333. Sorted out by crop, HRW regions were up 1 point to 329 on average, with SRW staes up 2 points to 377, and white wheat down 1 to 349. Spring wheat was 94% planted, 4% above the average pace, with 78% of the crop emerging, 9% faster than normal. Conditions were 74% gd/ex, with the Brugler500 index at 377.
Egypt’s GASC is tendering for wheat, with the tender closing and results expected later today. Japan’s Ministry of Ag is tendering for 103,767 MT of wheat from the US, Australia, and Canada, with 31,600 MT US specific.
Jul 24 CBOT Wheat is at $6.60 1/4, down 12 1/2 cents,
Sep 24 CBOT Wheat is at $6.81 3/4, down 12 1/4 cents,
Jul 24 KCBT Wheat is at $6.91 1/4, down 8 3/4 cents,
Sep 24 KCBT Wheat is at $7.04 3/4, down 9 cents,
Jul 24 MGEX Wheat is at $7.25 1/2, down 8 1/4 cents,
Sep 24 MGEX Wheat is at $7.35 1/4, down 8 3/4 cents,
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