Wheat Slips Lower

The wheat complex was lower across the three exchanges. Chicago SRW contracts were fractionally to 5 cents lower on the day. KC HRW futures were down 4 ¼ to 10 cents at the close. MPLS spring wheat was steady to 4 ¾ cents lower, with September up ¾ cent.

NASS Crop Progress data showed 67% of the US winter wheat crop harvested by Sunday, 6% ahead of normal. The spring wheat crop was 72% headed, in line with the 5-year average pace. Spring wheat conditions were 58% gd/ex, up 1%, with the Brugler500 index 3 points lower to 351.

USDA’s FGIS tallied wheat export shipments at 373,611 MT (13.73 mbu) during the week ending on July 9. That was up well above the week prior but 15.97% below the same week last year. Mexico was the top destination of 114,945 MT, with 79,127 MT headed to the Philippines and 62,220 MT to Japan. Marketing year exports for 2025/26 are 1.893 MMT (69.54 mbu), which is now 17.32% below the same period last year.

Sep 26 CBOT Wheat  closed at $6.35 1/4, down 5 cents,

Dec 26 CBOT Wheat  closed at $6.50 1/2, down 4 cents,

Sep 26 KCBT Wheat  closed at $6.66 1/4, down 10 cents,

Dec 26 KCBT Wheat  closed at $6.81 1/4, down 9 cents,

Sep 26 MIAX Wheat  closed at $6.53 1/4, up 3/4 cent,

Dec 26 MIAX Wheat  closed at $6.74 1/4, unch,

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