The wheat complex is in rally mode on Tuesday. Chicago SRW contracts are 7 to 9 cents higher on Tuesday. KC HRW futures are up 12 to 13 cents in the front months. MPLS spring wheat is trading with contracts 8 to 9 cents higher at midday.

Monthly trade data from Census showed 2.057 MMT (75.58 mbu) of wheat exported in August, which was 23.47% below last year but up 24.83% from last month.

Weekly NASS Crop Progress data showed 36% of winter wheat crop was planted as of Sunday, lagging the 5 year average for planting pace by 10 percentage points. Emergence was at 16%.

Dec 26 CBOT Wheat  is at $7.00 1/2, up 8 1/4 cents,

Mar 27 CBOT Wheat  is at $7.14, up 7 3/4 cents,

Dec 26 KCBT Wheat  is at $7.54 1/2, up 12 1/4 cents,

Mar 27 KCBT Wheat  is at $7.67, up 12 cents,

Dec 26 MIAX Wheat  is at $7.17, up 8 1/2 cents,

Mar 27 MIAX Wheat  is at $7.33 3/4, up 8 1/2 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.