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Wheat

Wheat Slips Back

The wheat complex was mostly lower on Monday, with winter wheat falling and spring wheat holding up. Chicago SRW contracts were 4 1/4 to 8 3/4 cents in the red at the close. KC HRW futures were down 4 1/4 to 8 1/2 cents. MPLS spring wheat was firmer, with fractional gains in the front months and deferred steady to 2 ½ cents lower.

NASS Crop Progress data showed 74% of the US winter wheat crop harvested by Sunday, 3% ahead of normal. The spring wheat crop was 86% headed, 1% ahead of the 5-year average pace. Spring wheat conditions were 53% gd/ex, down 5%, with the Brugler500 index 6 points lower to 345.

USDA’s FGIS tallied wheat export shipments at 231,991 MT (7.8 mbu) during the week ending on July 16. That was up well below the week prior and less than 1/3 of the same week last year. Marketing year exports for 2025/26 are 1.893 MMT (78.21 mbu), which is now 29.5% below the same period last year.

Argus estimates the French wheat crop at 30.8 MMT, a 7.6% drop from last year if realized.

Sep 26 CBOT Wheat  closed at $6.74, down 8 3/4 cents,

Dec 26 CBOT Wheat  closed at $6.91 1/2, down 8 1/4 cents,

Sep 26 KCBT Wheat  closed at $7.23 3/4, down 8 1/2 cents,

Dec 26 KCBT Wheat  closed at $7.39, down 7 3/4 cents,

Sep 26 MIAX Wheat  closed at $6.92 1/4, up 1/2 cent,

Dec 26 MIAX Wheat  closed at $7.17 1/4, up 1/2 cent,

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