Wheat is showing 4 to 7 cent gains early on Tuesday. The wheat market was sharply higher across all three exchanges on Monday, following a White House fact sheet release over the weekend. Chicago SRW futures were 17 ¾ to 28 ¾ cents higher across the board. New buying interest was noted, up 10,104 contracts. KC HRW futures were 13 to 16 ¼ cents in the green at the close. OI was up 2,608 contracts. MPLS spring wheat was up 16 ¼ to 18 ¼ cents on the day. Much of the buying was due to a White House fact sheet on the US/China talks from last week, in part stating that China will purchase at least $17 billion per year of U.S. agricultural products for the next three years in addition to the previous soybean commitments.

Crop Progress data showed the US spring wheat crop at 73% planted, now 7 percentage points ahead of the 5-year average pace of 66%. Emergence was pegged at 39%. The winter wheat crop was at 71% headed, which was 13 percentage points head of normal. Condition ratings were down 1% to 27% gd/ex. The Brugler500 index was down 6 points to 271.

Export Inspections data showed wheat at 223,972 MT (8.23 mbu) shipped in the week that ended on May 14. That was down 56.23% from last week and a 48.08% drop from the same week last year. The Philippines was the top destination of 65,999 MT, with 65,465MT to Mexico and 34,808 MT to Japan. Marketing year shipments have totaled 23.099 MMT (848.73 mbu), which is up 11.32% yr/yr.

Jul 26 CBOT Wheat  closed at $6.64 1/2, up 28 3/4 cents, currently up 4 1/2 cents

Sep 26 CBOT Wheat  closed at $6.77 3/4, up 28 cents, currently up 4 1/4 cents

Jul 26 KCBT Wheat  closed at $7.03 3/4, up 15 3/4 cents, currently up 5 1/2 cents

Sep 26 KCBT Wheat  closed at $7.13 3/4, up 16 1/4 cents, currently up 5 1/4 cents

Jul 26 MIAX Wheat  closed at $7.03 1/4, up 18 cents, currently up 6 1/2 cents

Sep 26 MIAX Wheat  closed at $7.24, up 18 1/4 cents, currently up 7 cents

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