The wheat complex saw mixed action on Monday, with the spring wheat market the weakest. Chicago SRW contracts were up 3 ¾ to 5 ¾ cents on the day. KC HRW futures posted 3 ½ to 5 ½ cent gains. MPLS spring wheat was down 1 ½ to 2 ¾ cents at the close.
NASS Crop Progress data showed 95% of the US winter wheat crop headed by Sunday, 4% ahead of normal. Harvest was pegged at 25%, faster than the 13% average pace. Conditions were up 2% to 27% gd/ex, with the Brugler500 index 4 points higher to 267.
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The spring wheat crop was 95% emerged, 6% ahead of the average pace. The crop was 6% headed, 1 percentage point ahead of normal. Spring wheat conditions were 55% gd/ex, up 3%, with the Brugler500 rising 2 points to 352.
USDA’s FGIS tallied wheat export shipments at 334,292 MT (12.28 mbu) during the week ending on June 11. That was up 3.39% from the week prior but 14.01% below the same week last year. South Korea was the top destination of 105,822 MT, with 54,444 MT headed to Mexico and 53,202 MT to the Philippines. Marketing year exports for 2026/27 are 554,075 MT (20.36 mbu) in the first 11 days of the new MY, which is now 6.1% below the same period last year.
Algeria has issued a tender for wheat imports, with a deadline for offers on Wednesday.
Jul 26 CBOT Wheat closed at $5.89 3/4, up 5 1/4 cents,
Sep 26 CBOT Wheat closed at $6.00 1/2, up 4 3/4 cents,
Jul 26 KCBT Wheat closed at $6.40, up 5 1/2 cents,
Sep 26 KCBT Wheat closed at $6.45 1/4, up 4 1/2 cents,
Jul 26 MIAX Wheat closed at $6.16, down 2 1/4 cents,
Sep 26 MIAX Wheat closed at $6.40 3/4, down 2 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.