Wheat Falling Lower on Monday Morning

Wheat is trading with 4 to 8 cent losses early on Monday morning. The wheat complex fell back into the long weekend with losses across the three exchanges. Chicago SRW contracts were down 1 ½ to 7 ¼ cents at the close, with July still up 21 ¼ cents on the week. Open interest was down 2,302 contracts. KC HRW futures closed with losses of 4 ½ to 8 ½ cents on Thursday, as July was up 9 ½ cents on the week. OI dropped 2,628 contracts. MPLS spring wheat was mixed, down 2 ½ cents to fractionally higher, with July up 4 ¾ cents last week.

Export Sales data was released on Thursday, with a total of 400,844 MT of 2026/27 wheat sales in the week of June 11. That was down 6.16% from the same week last year.  Japan was the largest buyer of 167,400 MT, with 80,300 MT sold to Mexico. There was an additional 26,900 MT reported for 2027/28 all to the Philippines. 

The French soft wheat crop was estimated at 76% gd/ex as of June 15 according to the FranceAgriMer, down 1% from the previous week. The durum crop was estimated at 64% gd/ex. Argus estimates the Ukrainian wheat crop at 24.1 MMT according to Argus, up 0.6 MMT from their previous number. 

Jul 26 CBOT Wheat  closed at $6.05 3/4, down 7 cents, currently down 4 3/4 cents

Sep 26 CBOT Wheat  closed at $6.14, down 7 1/4 cents, currently down 4 cents

Jul 26 KCBT Wheat  closed at $6.44, down 8 1/2 cents, currently down 7 1/4 cents

Sep 26 KCBT Wheat  closed at $6.51 1/4, down 8 1/2 cents, currently down 7 3/4 cents

Jul 26 MIAX Wheat  closed at $6.23, down 2 1/2 cents, currently down 4 1/2 cents

Sep 26 MIAX Wheat  closed at $6.48 3/4, down 1/2 cent, currently down 4 1/4 cents