The wheat complex posted some mixed trade across the three exchanges, as the Chicago market was the strongest of the three. CBT soft red wheat futures were up 2 to 3 cents on the day. KC HRW futures closed the session with losses of 3 to 4 cents. MPLS spring wheat saw 2 to 5 ¼ cent losses at the close.

The weekly NASS Crop Progress report showed the winter wheat harvest at 98% complete. The spring wheat crop was 53% harvested, behind the 54% average. The final condition rating for the year saw 49% of the crop in good/excellent categories, down 1%, as the Brugler500 index was steady at 333.

The next week shows heavy rain totals of 1 to 3 inches across a wide swath of the Southern Plains. 

Russia’s wheat crop estimate from IKAR was raised by 0.5 MMT to 86 MMT, with the exports raised by the same to 43 MMT. The European Commission estimates the EU soft wheat exports at 2.18 MMT from July 1 to August 24, lagging behind the 4.15 MMT total last year. 

Sep 25 CBOT Wheat  closed at $5.09 1/2, up 2 3/4 cents,

Dec 25 CBOT Wheat  closed at $5.31 3/4, up 2 cents,

Sep 25 KCBT Wheat  closed at $4.93, down 3 3/4 cents,

Dec 25 KCBT Wheat  closed at $5.17 3/4, down 3 cents,

Sep 25 MGEX Wheat  closed at $5.66 1/4, down 5 1/4 cents,

Dec 25 MGEX Wheat  closed at $5.90 3/4, down 2 3/4 cents,