Wheat prices on the US stock exchanges recorded gains across the board on Tuesday. In Chicago, SWR wheat for December was up 9.75 US cents to 520.50 US cents/bushel. In Kansas City, HRW wheat for December rose by 9.25 US cents to 511.50 US cents/bushel. Spring Wheat in Minneapolis also closed firmer, with premiums of up to 3.75 US cents per contract.
The main impetus came from the USDA's new Crop Progress report. According to the report, winter wheat sowing in the USA is 20 percent complete to date, three percentage points behind the five-year average. At 4 percent, the area already sown corresponds to the seasonal average. The spring wheat harvest is 96% complete and is proceeding at exactly the same pace as the long-term average.
The European Commission caused a stir internationally: At 4.12 million tons, EU wheat exports since 1 July are well below the previous year's figure of 6.13 million tons.
On Euronext, December gained €1.00 to €190.00 per tonne.
