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Wheat futures are trading 4 to 11 cents lower at midsession. MPLS is stronger than the other two. USDA showed winter wheat maturity ahead of normal, with 43% of the crop headed vs. 34% average for this date. Crop condition ratings did finally improve, with the Brugler500 index up 2 points from last week. Both SRW and HRW sub-ratings improved from week ago. The Spring wheat crop was 75% planted, well ahead of the 5yr average; emergence was at 30% vs. the 5yr average of just 16% for this week.Egypt bought 120,000 MT of Russian and Romanian wheat overnight. Consultant Informa this morning cut projected winter wheat yield by 1.9 bushels and cut production by 12 mbuto 1.486 billion bushels. The early KS WQT yield estimates are extremely variable.
May 15 CBOT Wheat is at $4.60, down 9 1/4 cents,
May 15 KCBT Wheat is at $4.90 1/4, down 3 1/2 cents,
May 15 MGEX Wheat is at $5.13 1/2, down 2 1/2 cents