Wheat Pushes Losses to Tuesday

The wheat complex is falling lower across the three markets on Tuesday. Chicago SRW contracts were 1 to 7 cents in the red at the close. KC HRW futures were fractionally in some deferred to 8 ¾ cents lower on the day. MPLS spring wheat posted weakness of 4 ¾ to 14 ½ cents. 

Weekly NASS Crop Progress data showed 76% of winter wheat crop was planted as of Sunday, now lagging the 5 year average for planting pace by 1 percentage point. Emergence was at 53%.

USDA’s GAIN reports showed updates to the Attaché offices in Australian and Argentina on Monday. Australia production was seen at 32 MMT, 1 MMT above the official number, with Argentina at 23 MMT, a 1.5 MMT higher number than the official USDA data.

EU wheat exports from July 1 to October 25 have totaled 9.21 MMT, a 0.07 MMT increase from last year.

Dec 26 CBOT Wheat  closed at $6.10 1/4, down 5 3/4 cents,

Mar 27 CBOT Wheat  closed at $6.23, down 6 3/4 cents,

Dec 26 KCBT Wheat  closed at $6.50 1/2, down 8 1/2 cents,

Mar 27 KCBT Wheat  closed at $6.60, down 8 3/4 cents,

Dec 26 MIAX Wheat  closed at $6.29 1/2, down 5 1/2 cents,

Mar 27 MIAX Wheat  closed at $6.47 1/2, down 4 3/4 cents,