Wheat prices are experiencing losses across most contracts on Tuesday, with Chicago SRW futures down 8 to 9 cents, Kansas City HRW down 9 to 10 cents, and Minneapolis spring wheat futures down 9 to 11 cents.
As of Sunday, 88% of the US winter wheat crop was reported headed, slightly above the historical average of 86%. However, only 4% of the harvest is complete, trailing the 5-year average of 7%. The overall condition ratings improved to 54% good/excellent, with a notable increase of 77 points in Nebraska.
In comparison, the spring wheat crop is recorded at 82% emerged, exceeding the normal pace by 1%. EU soft wheat exports stand at 19.49 million metric tons from July 1 to June 8, trailing behind last year’s 29.23 million metric tons.
