On Tuesday, the wheat complex saw mostly lower prices, with CBT soft red wheat futures decreasing by 4 to 5 cents and KC HRW futures falling 6 to 7 cents. September KCBT Wheat is priced at $5.00, down 6 1/4 cents.
The USDA’s Crop Progress report indicates that 94% of US winter wheat has been harvested, matching the normal pace, while spring wheat is only 36% complete, trailing the 5-year average. Current conditions report 50% of wheat in good/excellent status, with the Brugler500 index rising 2 points to 333.
Additionally, the European Commission has estimated EU soft wheat exports at 1.78 million metric tons from July 1 to August 17, significantly lower than the 3.76 million metric tons exported during the same period last year.
