The wheat complex is falling lower across the three markets on Tuesday. Chicago SRW contracts are 2 to 3 cents in the red. KC HRW futures are 7 to 8 cents lower. MPLS spring wheat is showing 5 to 6 cent losses at midday.

Weekly NASS Crop Progress data showed 76% of winter wheat crop was planted as of Sunday, now lagging the 5 year average for planting pace by 1 percentage point. Emergence was at 53%.

USDA’s GAIN reports showed updates to the Attaché offices in Australian and Argentina on Monday. Australia production was seen at 32 MMT, 1 MMT above the official number, with Argentina at 23 MMT, a 1.5 MMT higher number than the official USDA data.

EU wheat exports from July 1 to October 25 have totaled 9.21 MMT, a 0.07 MMT increase from last year.

Dec 26 CBOT Wheat  is at $6.14, down 2 cents,

Mar 27 CBOT Wheat  is at $6.26 3/4, down 3 cents,

Dec 26 KCBT Wheat  is at $6.52, down 7 cents,

Mar 27 KCBT Wheat  is at $6.61 1/2, down 7 1/4 cents,

Dec 26 MIAX Wheat  is at $6.28 1/2, down 5 1/2 cents,

Mar 27 MIAX Wheat  is at $6.46, down 5 1/4 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.