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Wheat futures ended the session mostly 4 1/4 cents lower to 2 1/4 cents higher, with strength in MPLS and weakness in KC. The USDA wheat crop condition report pegged a marketing year-high Brugler500 Index condition rating of 364 this week, up 5 points from the week before. The crop was 42% headed as of Sunday night, up from the five year average of 34%. Spring wheat plantings are more than half done at 54% finished, 15 points ahead of the average pace. The USDA reported that 22% of the intended spring wheat crop was emerged, up 8 points from average. Weekly export inspections were 355,757 MT during the week ending April 28. The weekly total was down 18% from the previous week, but was 9% larger than the same week in 2015. YTD inspections through April 28 are down 12.75% from the 2014/15 marketing year at that time. The Wheat Quality Council Kansas tour started today and runs through Thursday.
Jul 16 CBOT Wheat settled at $4.87 3/4, down 3/4 cent,
Jul 16 KCBT Wheat settled at $4.74 1/4, down 4 1/4 cents,
Jul 16 MGEX Wheat settled at $5.48 3/4, up 1 3/4 cents