The wheat complex closed Tuesday with mixed action across the three exchanges. Chicago SRW futures saw slight gains, fractionally to 2 ¼ cents higher. KC HRW futures were down 1 to 3 cents at the close. MPLS spring wheat futures were up 6 to 9 cents in the nearby contracts to lead the bulls.
USDA released their Crop Progress report this morning showing the winter wheat crop at 92% planted, lagging the 95% average pace. Emergence was at 79%, behind the 84% 5-year average. Condition ratings were pegged at 45% in good/excellent ratings, which was down from 49% last year. That equated to 328 on the Brugler500 index, down from 338 a year ago.
EU exports have totaled 9.05 MT since July 1 to November 16, now catching on last year and lagging by just 0.04 MMT vs. the same period.
Dec 25 CBOT Wheat closed at $5.46 1/2, up 2 1/4 cents,
Mar 26 CBOT Wheat closed at $5.59, up 1/2 cent,
Dec 25 KCBT Wheat closed at $5.26 1/4, down 2 1/2 cents,
Mar 26 KCBT Wheat closed at $5.43, down 1 3/4 cents,
Dec 25 MGEX Wheat closed at $5.83 3/4, up 9 cents,
Mar 26 MGEX Wheat closed at $5.88, up 6 3/4 cents,
