Overnight wheat trading has nudged prices mostly 3 cents per bushel higher. Yesterday, spring wheat led the complex with 1.2% to 1.7% gains. HRW futures were 3 1/4 to 4 1/4 cents in the black at the closing bell, and SRW wheat closed up by 1 3/4 to 3 1/2 cents. Winter wheat planting progressed 11% on the week, with 77% of the 2021/22 crop planted. The 5-yr average is 72%. NASS noted that emergence was 51%, compared to 48% average. This comes despite the lack of moisture in the southern Plains. New crop condition ratings should be available in next week’s report. The weekly Export Inspections report from USDA showed 239,688 MT of wheat exports on the week. MYTD 10.677 MMT have been exported, which outpaces last MY by 6%. Ethiopia issued an international tender for 280k MT of optional origin wheat.

--- provided by Brugler Marketing & Management