Tuesday wheat trading is underway, with futures 4 to 5 cents higher across the three US markets. Wheat futures closed mixed yesterday. HRW futures had gains of as much as 2 3/4 cents, but CBT SRW futures ended the day fractionally mixed to 1 1/4 cents lower. Spring wheat futures also closed fractionally mixed after giving back midday gains.

NASS reported 10% of the US winter wheat crop was headed as of 4/18. The 5-yr average is 14%. Less is better here, with freezing temps in the Plains and Corn Belt this week. In TX specifically, 41% of the crop was headed. Winter wheat conditions were UNCH for the week on the Brugler500 Index at 337. State by state, though, WA and OR conditions worsened for a combined 32 points to 360 and 356 respectively. Spring wheat planting was up 8 ppts on the week to 19% complete. The 5-yr average is to be 12% planted. 

USDA’s weekly Export Inspections report showed 613,595 MT of wheat was shipped during the week ending 4/15. USDA’s weekly report had accumulated wheat exports at 22.022 MMT through 4/15, which is just 20k MT ahead of last season’s pace.

Cash SRW Wheat  was $6.26 2/5 yesterday, up 3/4 cent,

May 21 CBOT Wheat  closed at $6.52 1/4, down 1/4 cent, but up 5 this morning

Jul 21 CBOT Wheat  closed at $6.53 3/4, down 1 1/4 cents, up 4 1/2 this AM

Cash HRW Wheat  was $5.81 1/3 last night, up 3 cents,

May 21 KCBT Wheat  closed at $6.12, up 2 3/4 cents, up 3 3/4 this morning

Jul 21 KCBT Wheat  closed at $6.18 3/4, up 2 1/2 cents, up another 4 this AM

May 21 MGEX Wheat  closed at $6.64 1/2, up 1/4 cent, now up 4 1/2