Wheat Mixed on Tuesday

Wheat futures closed mixed on Tuesday, with HRS up 2 to 5 cents and CBT 1 to 2 1/2 cents lower. KC was mixed, anywhere from 1 1/4 cents lower to a penny higher. Winter wheat conditions in KS were down 5 points, with OK 12 lower. The only spring wheat states to see an increase were SD and WA. Winter wheat in KS is just 5% harvested, with OK at 43% and TX 58% complete. Drier forecasts for the Southern Plains should allow for harvest to pick up this week. Published trade estimates have USDA putting all wheat acres at 45.65 million acres on Friday, with spring wheat at 12.59 million. The latter would be down 240,000 acres from March.

Jul 19 CBOT Wheat closed at $5.35 3/4, down 2 1/4 cents,

Jul 19 KCBT Wheat closed at $4.65 1/4, down 1/4 cent,

Jul 19 MGEX Wheat closed at $5.48 1/2, up 5 cents

--provided by Brugler Marketing & Management

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