Wheat Down Double Digits at Midday

Wheat futures are trading 10 to 13 3/4 cents lower in most winter wheat contracts on Tuesday, with MPLS 7 to 9 1/2 cents in the red. The weekly Crop Progress update showed the winter wheat harvest was 8% complete on 6/16, well below the 20% average. KS has harvested just 1% (12% avg) with OK 40% back of normal at 16% harvested. Condition ratings were UNCH at 64% gd/ex, with the Brugler500 down 1 to 366. The spring wheat crop was 95% emerged and 2% headed (12% avg). Spring wheat condition ratings were down 4% to 77% gd/ex with the Brugler500 down 6 points to 382. MN ratings were up 5 points, with ND down 1. Japan is tendering for 61,864 MT of US wheat, with the tender to close on Thursday.

Jul 19 CBOT Wheat is at $5.26 1/4, down 13 1/4 cents,

Jul 19 KCBT Wheat is at $4.61 3/4, down 13 3/4 cents,

Jul 19 MGEX Wheat is at $5.50 3/4, down 9 1/2 cents

--provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
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