Wheat is trading with Tuesday morning losses across the three markets, led by the winter wheats. The wheat complex pulled back into the Monday close, as contracts saw mostly fractional gains. KC HRW futures were fractionally higher in the front months. CBT soft red wheat futures were up ½ cent in the nearbys. MPLS spring wheat saw a ¼ cent gain in September, with Dec down 2 ½ cents.

Crop Progress data from USDA showed the US winter wheat 90% harvested, with 91% the normal harvest pace. The spring wheat harvest was 16% complete, behind the 22% average. Conditions were listed at 49% gd/ex, back up 1%, though the Brugler500 index was down 1 at 331 on higher very poor ratings.

Export Inspections data showed 365,486 MT (13.43 mbu) of wheat shipped in the week that ended on August 7, which was down 47.01% from the week prior and 45.37% below the same week last year. Mexico was the top destination of 80,401 MT, with 68,034 MT to Vietnam and 49,658 MT to Nigeria. Marketing year shipments have totaled 4.367 MMT (160.45 mbu) since June 1, 2.37% larger yr/yr.

Analysts estimate the US wheat production total to be tallied at 1.922 billion bushels in the Crop Production report later this morning, which would be down 7 mbu from last month. They also see new crop stocks down 8 mbu to 882 mbu.

A South Korean mill tendered for 50,000 MT of wheat from the US, with offers due on Wednesday.

Sep 25 CBOT Wheat  closed at $5.15, up 1/2 cent, currently down 5 cents

Dec 25 CBOT Wheat  closed at $5.35 1/2, up 1/2 cent, currently down 4 3/4 cents

Sep 25 KCBT Wheat  closed at $5.19, up 3/4 cent, currently down 4 1/4 cents

Dec 25 KCBT Wheat  closed at $5.37 1/2, up 1/4 cent, currently down 4 cents

Sep 25 MGEX Wheat  closed at $5.77, up 1/4 cent, currently down 1 cent

Dec 25 MGEX Wheat  closed at $5.95 3/4, down 2 1/2 cents, currently down 3/4 cent