Commodities
US Spring Wheat Harvest Surges Ahead of Schedule Amid Export Decline
U.S. spring wheat harvest has accelerated to 62% completion by Sunday, running 10% ahead of its typical pace and marking a 21% weekly advance.
The latest NASS Crop Progress report showed that 51% of the crop was rated good to excellent, down 1% from the previous reading.
Wheat futures across Chicago, Kansas City, and Minneapolis traded lower early Tuesday after a mostly weaker close on Monday.
Weekly wheat export inspections totaled 425,668 metric tons, down 17.24% from the prior week and 59.35% below the same week a year earlier.