The wheat complex fell lower on Tuesday across all three markets. CBT soft red wheat futures were 3 to 4 1/4 cents lower on the day. KC HRW futures fell 6 to 7 cents. Both the September winter wheat contracts closed below the $5 mark. MPLS spring wheat was 2 to 3 cents lower across the front months. US prices are competitive on the world market, and recent Export Sales reports have shown the business, though the market has had a muted reaction.

Crop Progress data from USDA showed the US winter wheat 94% harvested, with 95% the normal harvest pace. The spring wheat harvest was 36% complete, behind the even with the 5-year average. Conditions were listed at 50% gd/ex, up 1%, with the Brugler500 index back up 2 points at 333. The improvement was noted in ND, up 3 points, with ID 2 points higher. Deterioration was seen in MN, down 5 points, with SD down 2.

The European Commission estimates the EU soft wheat exports at 1.78 MMT from July 1 to August 17, which is less than half of the 3.76 MMT in the same period last year.

Sep 25 CBOT Wheat  closed at $4.98 1/2, down 4 1/4 cents,

Dec 25 CBOT Wheat  closed at $5.21 1/4, down 3 3/4 cents,

Sep 25 KCBT Wheat  closed at $4.99 1/2, down 6 3/4 cents,

Dec 25 KCBT Wheat  closed at $5.21 3/4, down 6 1/2 cents,

Sep 25 MGEX Wheat  closed at $5.68 3/4, down 2 1/4 cents,

Dec 25 MGEX Wheat  closed at $5.86 1/4, down 3 cents,