Wheat futures are trading with losses on Tuesday morning. The wheat complex closed mixed across the three markets, with the spring wheat the strongest. Chicago SRW futures were 2 to 3 cents lower on the day, with July rallying up 17 ½ cents last week. The Kansas City HRW contracts closed 1 to 2 cents in the red, as July held up for a 22 ¼ cent gain since last Friday. Minneapolis spring wheat futures posted 6 to 7 gains at the close, with July up 33 ¼ cents last week.

Rains fell over a good portion of the Plains this weekend. From NE to the norther parts of TX.

Commitment of Traders data showed spec traders in Chicago wheat futures and options at a net short of 108,893 contracts as of Tuesday, down 18,002 contracts from the week prior. In KC wheat, managed money held a net short of 80,162 contracts on May 20, a 637 contract reduction from the previous week’s record. 

Jul 25 CBOT Wheat  closed at $5.42 1/2, down 2 cents, currently down 8 cents

Sep 25 CBOT Wheat  closed at $5.58, down 2 1/2 cents, currently down 7 1/2 cents

Jul 25 KCBT Wheat  closed at $5.38 3/4, down 1 1/4 cents, currently down 10 3/4 cents

Sep 25 KCBT Wheat  closed at $5.53 3/4, down 1 1/4 cents, currently down 10 1/4 cents

Jul 25 MGEX Wheat  closed at $6.06 1/2, up 6 1/4 cents, currently down 4 3/4 cents

Sep 25 MGEX Wheat  closed at $6.20 3/4, up 6 3/4 cents, currently down 5 3/4 cents