Wheat futures ended the Tuesday session mixed across all three exchanges hard red contracts showed the most strength. Chicago SRW futures were down ¾ to 2 ¾ cents at the close. KC HRW was mixed, with front months steady to ½ cent lower and back month ¼ to ½ cent higher. MPLS spring wheat was 1 to 2 cents higher.
Monday afternoon’s Crop Progress report showed 14% of the US winter wheat crop planted as of Sunday, 1% faster than normal. The spring wheat crop was 92% harvested, above the 90% average pace.
Japan is tendering for 123,012 MT of wheat from the usual three, the US, Australia, and Canada. The tender is due on Thursday, with 66,397 MT sought from the US specific. The French ag ministry trimmed the country’s soft wheat production estimate by 0.54 MMT to 25.78 MMT on Tuesday. SovEcon increased their Russian wheat crop production estimate by 0.4 MMT to 82.9 MMT on Tuesday.
Dec 24 CBOT Wheat closed at $5.75 3/4, down 2 3/4 cents,
Mar 25 CBOT Wheat closed at $5.95 1/2, down 2 cents,
Dec 24 KCBT Wheat closed at $5.80, down 1/2 cent,
Mar 25 KCBT Wheat closed at $5.93, down 1/2 cent,
Dec 24 MGEX Wheat closed at $6.21, up 1 1/4 cents,
Mar 25 MGEX Wheat closed at $6.41 3/4, up 1 cent,
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