The wheat complex faded lower on Tuesday. Chicago SRW futures were down 13 to 14 cents at the close. The Kansas City HRW contracts posted losses of 14 to 15 on the Tuesday session. Minneapolis spring wheat futures were 10 to 12 cents in the red.

Weekly Crop Progress data tallied the spring wheat crop at 87% planted, 7 percentage points ahead of normal, with 60% emerged. The initial spring wheat ratings were 45% good/excellent, which is well below the 70% trade estimate. That is a 326 on the Brugler500 index and the poorest start to ratings since 1988. 

The winter wheat crop was 75% headed, ahead of the 70% average pace. Conditions were down 2% at 50%, vs. expectations at 52%. That was a 332 on the Brugler500 index, down 4 from the week prior. 

USDA’s Export Inspections report indicated a total of 561,980 (20.65 mbu) of wheat shipped in the week that ended on 5/22. That was up 30.29% from the previous week and 40.88% above the same week in 2024. South Korea was the largest destination of 133,130 MT, with 67,957 MT headed to Indonesia, and 57,759 MT to Venezuela. Marketing year shipments have totaled 21.27 MMT (718.6 mbu) with just over 1 reporting week left in the MY, which is up 16.28% compared to the same week last year.

Jul 25 CBOT Wheat  closed at $5.28 1/2, down 14 cents,

Sep 25 CBOT Wheat  closed at $5.44 1/4, down 13 3/4 cents,

Jul 25 KCBT Wheat  closed at $5.24 1/2, down 14 1/4 cents,

Sep 25 KCBT Wheat  closed at $5.39 1/2, down 14 1/4 cents,

Jul 25 MGEX Wheat  closed at $5.96 1/4, down 10 1/4 cents,

Sep 25 MGEX Wheat  closed at $6.09 1/4, down 11 1/2 cents,

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