Wheat futures settled Tuesday with most CBT and KC contracts 2 to 4 1/2 cents higher, as MPLS was fractionally to 1 1/2 cents higher. Lower crop ratings could have been supportive, although there is little correlation with final yield at this point. Individual state data shows the winter wheat crop in KS at 90% emerged vs. the average of 95%, as OK was also at 90% compared to the average of 92%. Most SRW states are even with or above the average for crop emergence. Showers across parts of Australia over the weekend slowed the winter wheat harvest there.
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