Wheat is showing 2 to 6 cent gains across the three exchanges on Tuesday morning. 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. Open interest was down 14,570 contracts, with 21,098 contracts leaving July. KC HRW futures were up 2 ¼ to 9 cents at the close. Open interest was down 5,637 contracts. 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.
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.
Jul 26 CBOT Wheat closed at $5.83 1/4, up 3 1/4 cents, currently up 6 cents
Sep 26 CBOT Wheat closed at $5.95 3/4, up 3 cents, currently up 5 3/4 cents
Jul 26 KCBT Wheat closed at $6.29 3/4, up 9 cents, currently up 5 1/4 cents
Sep 26 KCBT Wheat closed at $6.39 3/4, up 8 1/4 cents, currently up 4 1/2 cents
Jul 26 MIAX Wheat closed at $6.20 1/2, unch, currently up 2 1/2 cents
Sep 26 MIAX Wheat closed at $6.45, down 1 1/4 cents, currently up 3 cents
