Wheat futures are trading with Tuesday midday gains across the three exchanges as a drop in ratings is giving some shorts a reason to cover. Chicago SRW futures are up 16 to 18 cents so far on the session.  Kansas City HRW contracts are 15 to 16 cents in the green. Minneapolis spring wheat futures are 11 to 12 cents higher.

Weekly Crop Progress data indicated the spring wheat crop at 82% planted, well ahead of the 65% average pace. All 6 states were reported ahead of the average pace. Emergence was tallied at 45%, vs. the normal 34% pace. MT was listed as lagging the normal pace thanks to the later plantings start. 

Winter wheat shown at 64% headed, 6 percentage points faster than average. Of the 18 states, ID, IL, MI, MT, NC, OK, and SD were all behind. Conditions were shown as slipping 2% to 52% gd/ex, with the Brugler500 index down 2 to 336. Ratings by state via the Brugler500 index were down 13 points in CO, and 14 points in TX for the HRW states, with MI slipping 3 and NC down 4. Improvement was noted in SD, up 22 points, with KS up 4, NE 7 points higher and OK up 6. 

Jul 25 CBOT Wheat  is at $5.46 1/4, up 17 1/4 cents,

Sep 25 CBOT Wheat  is at $5.59 3/4, up 16 3/4 cents,

Jul 25 KCBT Wheat  is at $5.38, up 15 1/4 cents,

Sep 25 KCBT Wheat  is at $5.51 1/2, up 15 cents,

Jul 25 MGEX Wheat  is at $5.96 3/4, up 11 1/4 cents,

Sep 25 MGEX Wheat  is at $6.10, up 11 1/4 cents,