The wheat complex is giving back most of Monday’s Gains on Turnaround Tuesday. Chicago SRW futures are down fractionally to a penny on the day. KC HRW contracts are 1 to 1 ½ cents lower on the session. MPLS spring wheat is showing mixed trade, with most contracts within a penny of unchanged.

Wheat export shipments during August totaled 2.438 MMT (89.58 mbu) according to Census, which was up 67.65% from a year ago and 24.46% larger than in July. That took first quarter exports to 215 mbu, a 3-year high.

Crop Progress data showed 51% of the US winter wheat crop planted, 1% behind the average pace. Emergence was pegged at 25%, on pace with normal.

Japan is tendering for 115,050 MT of wheat from the US, Canada, and Australia, with 56,690 MT from the US.

Dec 24 CBOT Wheat  is at $5.92, down 1/2 cent,

Mar 25 CBOT Wheat  is at $6.15 1/2, down 1 cent,

Dec 24 KCBT Wheat  is at $6.02, down 1 1/4 cents,

Mar 25 KCBT Wheat  is at $6.18 1/2, down 1 1/2 cents,

Dec 24 MGEX Wheat  is at $6.44 1/4, down 0 cent,

Mar 25 MGEX Wheat  is at $6.65 1/2, unch,