The wheat complex started the week with losses across the three markets on Monday. Chicago SRW futures were 2 ¾ to 7 ½ cents lower. KC HRW futures were fractionally to 3 cents in the red. MPLS spring wheat was mixed, with front months fractionally to a penny lower and deferreds slightly higher.
The Kansas Crop Progress report showed winter wheat conditions down 6% to 46% good/excellent, with the Brugler500 index down 11 points to 328.
USDA’s FGIS tallied wheat export shipments at 458,411 MT (16.84 mbu) during the week ending on March 19. That was 33.39% above the week prior but 5.53% below the same week last year. Mexico was the top destination of 128,882 MT, with 68,376 MT headed to China and 50,093 MT to Taiwan. Marketing year exports for 2025/26 are 19.93 MMT (732.3 mbu) since June 1, which is now 17.98% ahead of the same period last year.
Early on Monday morning, President Trump put out a Truth Social post ordering the military to postpone strikes against Iranian power plants and energy infrastructure for 5 days after weekend talks were “good and productive.” Iran state media responded stating there was no direct contact with the US. Crude oil fell $9.36 on the day.
May 26 CBOT Wheat closed at $5.87 3/4, down 7 1/2 cents,
Jul 26 CBOT Wheat closed at $6.00, down 7 1/4 cents,
May 26 KCBT Wheat closed at $6.03 1/4, down 3 cents,
Jul 26 KCBT Wheat closed at $6.18 1/4, down 3 cents,
May 26 MIAX Wheat closed at $6.27, down 1 cents,
Jul 26 MIAX Wheat closed at $6.42 1/2, down 1/4 cent,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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