Following overnight losses, the wheat market is down 2 to 7 cents across most hard red contracts, as Chicago is fractionally mixed.  Bulls stumbled into month end on Tuesday. Kansas City led the way with losses of 6 to 15 ¼ cents and in delivery May down 21.  Chicago contracts were down 3 to 7 ¼ cents across the nearbys and up 1 ¼ to 3 ¼ cents in the deferreds. MPLS spring wheat was 2 ¾ to 5 cents lower across the board.

Delivery notices vs. May CBT wheat slowed down, to 678 contracts, of which Dorman Trading customers stopped 617.  There were again zero deliveries against KC May. 

Monday afternoon’s Crop Progress report showed much of the winter wheat deterioration via the HRW states, as KS was down another 12 points, with NE and OK 8 points lower wk/wk, and CO down 20. The SRW states were mostly improving, with IL up 8 points, IN 2 points higher rand OH unch. For spring wheat each of the reported states were well above normal, with MN 37% faster than average and ND 9% ahead of schedule.

Jordan made no purchase in their Wednesday tender for 120,000 MT of wheat, citing offers that were too high. Algeria is tendering for 50,000 MT of wheat in a tender that closes today.

May 24 CBOT Wheat  closed at $5.85, down 5 1/4 cents, currently up 1/2 cents

Jul 24 CBOT Wheat  closed at $6.03 1/4, down 5 1/4 cents, currently up 3/4 cents

May 24 KCBT Wheat  closed at $6.22 3/4, down 21 cents, currently unch

Jul 24 KCBT Wheat  closed at $6.35 1/4, down 15 1/4 cents, currently down 4 1/2 cents

Jul 24 MGEX Wheat  closed at $7.04 1/4, down 3 1/2 cents, currently down 2 1/2 cents