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Barchart.com reports that the wheat complex is trading fractionally to 4 cents higher this morning and that the market continues to be controlled by the bears as all three exchanges were lower on Tuesday. “Chicago contracts were down 8 ¾ to 12 cents at the close. Kansas City futures were 5 ½ to 10 cents lower. MPLS spring wheat contracts were down 9 ¼ to 12 cents in most relevant contract,” Barchart.com said. NASS showed improved winter wheat conditions, up 3 points from the previous week to 42% gd/ ex, with the Brugler500 7 points higher to 342. The spring wheat crop conditions were weaker, down 5% to 71% gd/ex, as the Brugler500 was down 6 points to 373. By state, ND was down 14 points, with MN losing 12 points. Hightower Report says that wheat has been the anchor of the grain complex lately as prices have closed weak everyday since May 28. The market has given up all the gains from the Russian frost and dryness rally seen in April and May. However, Russian crop estimates are still well down from where they were before the frost.





