Wheat Falls Back to Close Monday Mixed

The wheat complex posted mixed trade on Monday, with winter wheats holding firm and spring wheat slipping lower. Chicago SRW contracts saw fractional to 4 cent gains on the day. KC HRW futures were mostly fractionally to 2 ¾ cents higher, with September down ½ cent. MPLS spring wheat was 1 ¼ to 9 ½ cents lower across most contracts.

This week’s NASS Crop Progress report showed 91% of the US winter wheat crop harvested by Sunday, now matching the normal pace. The spring wheat crop was 24% harvested, ahead of the 19% 5-year average pace. Spring wheat conditions were down 4% at 51% gd/ex, with the Brugler500 index dropping 9 points to 339.

Monday’s weekly Export Inspections report showed wheat shipments of 421,277 MT (15.48 mbu) in the week of 8/6. That was a 24.36% increase from the week prior and 1.55% larger than the same week last year. Japan was the largest destination of 81,506 MT, with 78,035 MT shipped to Mexico and 66,000 MT to the Philippines. Shipments for the marketing year are now 3.332 MMT (122.4 mbu) of wheat, which is 24.56% below the same period last year.

NASS will release updated production data for wheat on Wednesday via the monthly Crop Production report, with analysts surveyed by Reuters looking for 1.525 bbu of wheat, an `11 mbu cut from July if realized. Winter wheat is seen down 9 mbu to 981 mbu, with spring wheat expected to slip 7 mbu to 468 mbu. US ending stocks are seen at 715 mbu, which would be a 7 mbu drop from last month.

APK-Inform cut their Ukrainian wheat export forecast to 13.5 MMT for 2026/27, with total grain exports dropping 3.7 MMT to 39.4 MMT. 

Sep 26 CBOT Wheat  closed at $6.40 1/2, up 3/4 cent,

Dec 26 CBOT Wheat  closed at $6.59 1/4, up 1 cent,

Sep 26 KCBT Wheat  closed at $7.13 1/2, down 1/2 cent,

Dec 26 KCBT Wheat  closed at $7.31 1/4, up 3/4 cent,

Sep 26 MIAX Wheat  closed at $6.70, down 9 1/2 cents,

Dec 26 MIAX Wheat  closed at $6.95, down 7 1/4 cents,