According to USDA’s Crop Progress report, US winter wheat harvest is 94% complete, compared to the normal pace of 95%. The spring wheat harvest was 36% complete, in line with the 5-year average. Crop conditions improved slightly, with 50% rated good/excellent, up 1% from last week, and the Brugler500 index rising 2 points to 333. Gains were seen in North Dakota (+3) and Idaho (+2), while declines were noted in Minnesota (-5) and South Dakota (-2).

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