The wheat complex is mostly lower on Tuesday, with spring wheat holding steady. CBT soft red wheat futures are 4 to 5 cents lower so far on the day. KC HRW futures are falling 6 to 7 cents, with September holding at $5. MPLS spring wheat is trading with fractional gains across the front months.
Crop Progress data from USDA showed the US winter wheat 94% harvested, with 95% the normal harvest pace. The spring wheat harvest was 36% complete, behind the even with the 5-year average. Conditions were listed at 50% gd/ex, up 1%, with the Brugler500 index back up 2 points at 333.
The European Commission estimates the EU soft wheat exports at 1.78 MMT from July 1 to August 17, which is less than half of the 3.76 MMT in the same period last year.
Sep 25 CBOT Wheat is at $4.98 1/4, down 4 1/2 cents,
Dec 25 CBOT Wheat is at $5.20 1/4, down 4 3/4 cents,
Sep 25 KCBT Wheat is at $5.00, down 6 1/4 cents,
Dec 25 KCBT Wheat is at $5.21 3/4, down 6 1/2 cents,
Sep 25 MGEX Wheat is at $5.68 1/2, up 3/4 cent,
Dec 25 MGEX Wheat is at $5.87, up 3/4 cent,
