Wheat futures are trading 5 to 7 cents lower across all three markets on Tuesday morning, reversing Monday's gains. Chicago SRW contracts had closed 10 to 12.25 cents higher, KC HRW futures were up 9.75 to 11.75 cents, and MPLS spring wheat gained 2.5 to 5.5 cents. The weekly NASS Crop Progress report showed the US winter wheat harvest at 86% complete, matching the normal pace, while spring wheat conditions improved 2% to 55% good to excellent. Export inspections for the week ending July 30 totaled 335,313 metric tons, a 19.68% drop from the prior week and less than half of the same week last year, with cumulative marketing-year shipments of 2.907 million metric tons running 27.36% below last year's pace.
KC HRW futures also trading lower, following the overall wheat market decline.
Wheat futures lower on Tuesday morning, reversing Monday's gains.