The wheat complex is trading with mixed action on Monday. Chicago SRW contracts are up 2 to 3 cents so far on the day. KC HRW futures are showing steady to penny losses at Monday’s midday. MPLS spring wheat is down 5 to 6 cents at midday. Crude oil is down $4.27 at midday, and provided early pressure after the US and Iran came to a peace deal over the weekend.
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.
Commitment of Traders data showed managed money liquidating more length in the Chicago market, dropping the outright longs by 16,852 contracts and increasing the shorts by 4,684 contracts. The net short was increased by 21,536 contracts to 79,407 contracts as of Tuesday. In KC wheat, spec funds flipped their position to a net short of 4,543 contracts, by a bear move of 18,020 contracts.
Jul 26 CBOT Wheat is at $5.86 3/4, up 2 1/4 cents,
Sep 26 CBOT Wheat is at $5.97 3/4, up 2 cents,
Jul 26 KCBT Wheat is at $6.34 1/2, unch,
Sep 26 KCBT Wheat is at $6.39 3/4, down 1 cent,
Jul 26 MIAX Wheat is at $6.13 1/4, down 5 cents,
Sep 26 MIAX Wheat is at $6.36 3/4, down 5 1/4 cents,
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