As of Tuesday, the Chicago Board of Trade (CBOT) wheat complex is seeing mixed trading results. Chicago Soft Red Winter (SRW) contracts are up 5 to 8 cents, while Kansas City Hard Red Winter (HRW) futures have dropped 1 to 3.5 cents. Minneapolis spring wheat is slightly up by 1 to 2 cents at midday.
According to the NASS Crop Progress report, 95% of the U.S. winter wheat crop was headed by Sunday, outpacing the typical rate by 4%. The harvest has reached 25%, which is faster than the 13% average. Winter wheat conditions improved by 2% to 27% rated good/excellent, while the Brugler500 index increased by 4 points to 267. Additionally, 95% of the spring wheat crop has emerged, 6% ahead of average, with conditions rated at 55% good/excellent.
In related news, Algeria has issued a tender for wheat imports, with a deadline for offers set for Wednesday.
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