Hard Red Wheat Sep '21 (KEU21)
Hard Red Wheat Futures Market News and Commentary
Wheat futures are in modest Turnaround Tuesday mode, giving back 2 to 6 cents of the double digit gains from Monday. KC led the way yesterday, gaining 3.53% to 4.5% with 30 cent gains through March ’22. CBT wheat futures also closed with gains of 20 3/4 to 26 1/2 cents. Spring wheat futures ended the session 18 to 23 1/2 cents in the black.
NASS reported the national winter wheat harvest at 91% complete. That is 5% points ahead of average and a 7% advancement from last week. Harvest had wrapped up in CA, IN, KS, and MO joining AL, OK, and TX as being finished. Winter wheat harvest in Washington was well ahead of their average 65% completion pace, with just 26% of fields left to cut.
NASS condition ratings for the U.S. spring wheat crop improved during the week that ended 8/1. Spring wheat scoring very poor shrank from 32% to 30% as the good/ex category was up 1% point to 10%. On the Brugler500, spring wheat scored a 217 for a 5 point week to week improvement. Washingt... Read more
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