Wheat is posting some strength as we trade through Tuesday’s midday. Chicago SRW futures are up 5 to 6 cents across the front months. KC HRW is heading higher, with gains of 5 to 6 cents in the nearbys. MPLS spring wheat is also pushing higher, with contracts up 4 to 6 cents.
Crop Progress data indicated 96% of the US winter wheat harvest was completed by August 18. The spring wheat harvest was tallied at 31% complete, behind the 36% average pace. Conditions of the crop remaining were up 1% to 73% gd/ex, as the Brugler500 index was unchanged at 379.
Japan has issued a tender for 81,442 MT of wheat from the US and Canada, with 53,562 MT US specific. EU exports of soft wheat have totaled 3.55 MMT for the marketing year from July 1 through August 18, down from the 4.53 MMT in the same period last year. SovEcon raised their Russian wheat production estimate by 0.4 MMT to 83.3 MMT on Tuesday.
Sep 24 CBOT Wheat is at $5.33 1/2, up 5 1/4 cents,
Dec 24 CBOT Wheat is at $5.57 1/2, up 5 1/4 cents,
Sep 24 KCBT Wheat is at $5.46 1/4, up 5 1/2 cents,
Dec 24 KCBT Wheat is at $5.61 3/4, up 5 1/4 cents,
Sep 24 MGEX Wheat is at $5.92 3/4, up 5 1/2 cents,
Dec 24 MGEX Wheat is at $6.08 1/4, up 4 3/4 cents,
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