Tuesday wheat trading follows yesterday’s profit taking with some Turnaround Tuesday buying. Futures are 3 to 4 cents higher in all three US markets this morning. Wheat trading starts the week with double digit weakness. Chicago SRW futures were the weakest 2.7% to 3.6% losses on the day. KC HRW futures fell back 14 1/4 to 17 cents. Spring wheat futures closed the day with 13 1/4 to 16 1/2 cent losses. The weekly Crop Progress report showed spring wheat harvest was 96% complete, with 5% still to go for MT, and ND and 6% left in WA. Planting for 21/22 winter wheat is 20% complete. That was 1% ahead of average, but 2% behind the pre-report expectations. NASS also reported winter wheat emergence at 3%. Wheat exports from the week ending September 17 were reported at 469,939 MT. Of the week’s exports, 72% were hard reds, with 173k MT HRW and 165k MT HRS. Export Inspections since June 1 total 8.624 MMT, outpacing last MY by 7.6%. Taiwan issued a tender for 91,300 MT of U.S. wheat. Egypt’s GASC issued an international wheat tender, with results expected later today.

--- provided by Brugler Marketing & Management