The wheat complex posted higher trade across the three markets on Tuesday. CBT soft red wheat futures posted 9 cent gains across the nearby contracts on Tuesday. KC HRW futures rallied 9 to 10 cents in the front months. MPLS spring wheat futures were up 4 to 5 cents at the close. A weaker US dollar index, down $0.635 was supportive to the complex.
Crop Progress data from NASS showed the US spring wheat crop at 94% harvested, which is 2% faster than normal. The winter wheat crop was listed at 11% planted, vs. the 13% 5-year average pace.
The French wheat crop is estimated at 33.3 MMT according to the country’s Farm Ministry, a 0.2 MMT increase from last month’s estimate. The European Commission pegs the EU wheat exports at 3.78 MMT from July to September 14, down 1.95 MMT from the same period last year.
Dec 25 CBOT Wheat closed at $5.34, up 9 cents,
Mar 26 CBOT Wheat closed at $5.51 3/4, up 9 cents,
Dec 25 KCBT Wheat closed at $5.23 1/2, up 9 1/2 cents,
Mar 26 KCBT Wheat closed at $5.44 1/4, up 9 1/2 cents,
Dec 25 MGEX Wheat closed at $5.77 1/2, up 4 3/4 cents,
Mar 26 MGEX Wheat closed at $5.97 3/4, up 4 1/4 cents,
