Nearby wheat futures ended the day with 6 to 13 ½ cent losses in follow through Tuesday selling. Chicago futures were at or near their lows for the day. KC HRW closed double digits weaker with losses of over 2%. MGE spring wheat prices were down by 6 ¼ to 7 ½ cents. 

NASS issued the first national Crop Progress report of the season on Monday afternoon, showing 4% of the winter wheat crop was headed as of 3/31. The average would be 2% for the first national report. Initial winter wheat conditions were shown at 56% good/ex for a 348 on the Brugler500 Index. That compares to a 279 on the Brugler500 last year at the start of the spring reporting season. The spring wheat planting was 1% finished nationally, with WA at 10% and ID at 8% planted. 

Wire sources had Saudi Arabia’s GFSA booking 795k MT of wheat via a weekend tender. Japan is set to buy 113.5k MT of wheat in a regular tender from U.S., Canada, and Australia.

The weekly Export Inspections had wheat shipments at 499k MT for the week of 3/28. That was up 66k MT from last week and compared to just 168k MT during the same week last year. Total shipments for the season reached 14.78 MMT, still a 2.08 MMT lag from last year.

May 24 CBOT Wheat  is at $5.45 1/4, down 11 3/4 cents,

Jul 24 CBOT Wheat  is at $5.61 3/4, down 11 cents,

May 24 KCBT Wheat  is at $5.63 1/4, down 12 1/4 cents,

Jul 24 KCBT Wheat  is at $5.57 1/2, down 13 1/2 cents,

May 24 MGEX Wheat  is at $6.27 1/2, down 7 1/4 cents,