Wheat Mixed at Midday

Wheat futures are mixed on Tuesday, with CBT steady to 3 cents lower. KC is firm to 2 1/4 cents higher, with MPLS 1 to 5 cents in the green. The weekly Crop Progress report showed the winter wheat crop 54% headed, lagging normal by 12%. Texas is 8% harvested, matching the average pace. Condition ratings saw a 2% boost to 66% gd/ex, with the Brugler500 index up another 3 to 372 points. Spring wheat planting was in line with estimates at 70% complete, vs. the 80% average. MN was 76% planted, only 4% behind normal, with ND at 66 and SD 70%. Emergence at 26% still lags the 5-year average pace by 25%. Taiwan purchased 111,050 MT of US wheat in their tender that closed on Tuesday. A report also showed that Ethiopia bought 600,000 MT of optional origin wheat on Tuesday.

Jul 19 CBOT Wheat is at $4.77 1/2, down 3/4 cent,

Jul 19 KCBT Wheat is at $4.36 3/4, up 2 1/4 cents,

Jul 19 MGEX Wheat is at $5.46 1/2, up 3 cents

--provided by Brugler Marketing & Management

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