The wheat complex is trading with losses across three markets. Chicago SRW futures are down 11 to 14 ¾ cents at midday. KC HRW futures are 7 to 9 cents in the red on Tuesday. There were 39 deliveries noted for May KC wheat overnight. MPLS spring wheat are 5 to 7 cents in the red at midday.
Crop Progress data showed the US spring wheat crop at 32% planted, now 3 percentage points behind the pace from the last 5 years (35%). Emergence was pegged at 10%. The winter wheat crop was at 49% headed, which was 17 percentage points head of normal. Condition ratings were up 1% to 31% gd/ex, though a 2% increase in poor/very poor ratings was also noted. Brugler500 index was down 1 point to 286.
Portions of KS are expected to see 1 to 2 inches of precip over the next 7 days, with north central and south central portions of the state seeing very little precip. The rest of the HRW are is dry with exception to CO, with SRW seeing 1 to 3 inches.
Monthly Census trade data saw a total of 1.821 MMT of wheat shipped in March, up 1.24% from last year and 6% below February.
May 26 CBOT Wheat is at $6.14 3/4, down 14 3/4 cents,
Jul 26 CBOT Wheat is at $6.27 1/4, down 13 3/4 cents,
May 26 KCBT Wheat is at $6.73 1/2, down 9 cents,
Jul 26 KCBT Wheat is at $6.87, down 7 1/2 cents,
May 26 MIAX Wheat is at $6.82 3/4, down 5 1/2 cents,
Jul 26 MIAX Wheat is at $6.92 1/4, down 6 3/4 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.
