The wheat complex experienced gains on Monday, influenced by support from corn and beans, despite weaker export data. Chicago SRW contracts increased by 11 3/4 to 15 1/2 cents, while KC HRW futures rose by 7 ½ to 12 ¾ cents. MPLS spring wheat prices climbed 8 ½ to 11 ¼ cents at the close.
As of Sunday, 59% of the U.S. winter wheat crop was harvested, outpacing the normal pace by 8%. The Brugler500 index for the winter wheat crop stood at 262, with conditions rated 26% good/excellent. In contrast, 54% of the spring wheat crop was headed, consistent with the five-year average, but conditions were rated at 57% good/excellent, a 2% decline.
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