The wheat complex was mixed on Monday, with the winter wheat firmer. Chicago SRW futures saw strength of 1 to 3 ¼ cents across most contracts on Monday. KC HRW futures were up 2 ¼ to 9 cents at the close. MPLS spring wheat was steady to 3 ½ cents in the red at the close.
NASS Crop Progress data showed 92% of the US winter wheat crop headed by Sunday, 7% ahead of normal. Harvest was pegged at 11%, faster than the 6% average pace. Conditions were down 1% to 25% gd/ex, with the Brugler500 index down 6 to 263. The spring wheat crop was 98% planted, 3% ahead of normal, with emergence at 87% and 7% faster than average. Spring wheat conditions were 52% gd/ex, up 5%, with the Brugler500 rising 7 points to 350.
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Export Inspections data showed 319,730 MT (11.75 mbu) of wheat shipped in the week that ended on June 4, with 216,195 MT in the new crop marketing year. The weekly total was down 20.65% from last week and 1.38% below the same week last year. Mexico was the top destination of 83,211 MT, with 44,104 MT to Indonesia and 40,448 MT to Venezuela. Marketing year shipments for 2025/26 were 23.997 MMT (877.9 mbu) according to inspections data, up 9.13% from the same period in the year prior.
Ukraine’s APK-Inform estimates the country’s wheat crop at 21.7 MMT, a 1.8 MMT increase from the previous number. A South Korean importer purchased 19,500 MT of wheat from the US in a tender late last week.
Jul 26 CBOT Wheat closed at $5.83 1/4, up 3 1/4 cents,
Sep 26 CBOT Wheat closed at $5.95 3/4, up 3 cents,
Jul 26 KCBT Wheat closed at $6.29 3/4, up 9 cents,
Sep 26 KCBT Wheat closed at $6.39 3/4, up 8 1/4 cents,
Jul 26 MIAX Wheat closed at $6.20 1/2, unch,
Sep 26 MIAX Wheat closed at $6.45, down 1 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
