Wheats Gain on Tuesday

Wheat markets ended the day with gains. At the high, Dec SRW was up to $8.43 for a 24 cent gain, but closed 9 3/4 cents higher. The other front months were 7 3/4 to 9 3/4 cents higher. KC wheats ended 3/4 to 6 3/4 cents higher through the front months. MPLS wheat ended the day 8 to 11 cents in the black. 

Wire services covered a story involving 2 deaths on NATO soil as seemingly a Russian sourced missile exploded in Poland. Reports covering the response hint that the explosion was unintentional. It is a developing story. 

USDA’s weekly Crop Progress data had 96% of the 23/24 winter wheat crop planted as of 11/13. That is up 4% points from last week and is 3% points ahead of average. Emergence reached 81%, matched with the average. Winter wheat conditions improved to 32% good/ex for a Brugler500 score of 291, from 286 last week and 326 last year. 

Dec 22 CBOT Wheat  closed at $8.28 1/4, up 9 3/4 cents,

Mar 23 CBOT Wheat  closed at $8.48, up 9 3/4 cents,

Cash SRW Wheat  was $7.62 3/8, up 10 5/8 cents,

Dec 22 KCBT Wheat  closed at $9.63, up 6 3/4 cents,

Cash HRW Wheat  was $9.21 3/8, up 6 3/4 cents,

Dec 22 MGEX Wheat  closed at $9.74, up 11 cents,