The wheat complex is mixed so far on Tuesday. Chicago SRW contracts are mixed, with contracts down 1 to 2 cents higher. There were 3 deliveries against Chicago wheat overnight, with 1 against July KC wheat. KC HRW futures are down 3 to 4 cents at midday. MPLS spring wheat is mostly fractionally to a penny lower.
NASS Crop Progress data showed 59% of the US winter wheat crop harvested by Sunday, 8% ahead of normal. Conditions were steady at 26% gd/ex, with the Brugler500 index up 1 point to 262. That was the final rating for the crop. The average of the major HRW states was at 209, with SRW states at 360.
The spring wheat crop was 54% headed, in line with the 5-year average pace. Spring wheat conditions were 57% gd/ex, down 2%, with the Brugler500 index 1 point lower to 354. Ratings in MT were up 16 points, with SD up 2. Deterioration was seen in ID (-11), ND (-13), and MN (-6).
The delayed Commitment of Traders report from CFTC showed managed money trimming 2,176 contracts from their net short to 69,030 contracts in CBT wheat as of last Tuesday. In KC wheat, spec traders were flipping back to net long of 6,910 contracts, a move of 8,195 contracts on the week.
Jul 26 CBOT Wheat is at $6.05 1/4, down 3/4 cent,
Sep 26 CBOT Wheat is at $6.14 1/2, up 1/2 cent,
Jul 26 KCBT Wheat is at $6.39 1/2, up 1 cent,
Sep 26 KCBT Wheat is at $6.45 3/4, down 4 cents,
Jul 26 MIAX Wheat is at $5.91 1/2, up 1 1/2 cents,
Sep 26 MIAX Wheat is at $6.28 1/2, down 1 cent,
