The wheat complex is holding higher on Monday, with bulls bouncing into midday. Chicago SRW futures are 5 to 7 cents in the greed on the session. KC HRW futures are up 9 to 11 cents so far on Monday. MPLS spring wheat is fractionally to 2 cents higher at midday.
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.
Weekly Commitment of Traders data from CFTC showed managed money in Chicago wheat futures and options with the largest Tuesday/Tuesday bear move on record (back to 2006), adding 39,165 contracts to their net short at 57,871 contracts by June 2. In Kansas City wheat futures and options, specs trimmed their net long position by 13,393 contracts to 13,477 contracts as of Tuesday.
Ukraine’s APK-Inform estimates the country’s wheat crop at 21.7 MMT, a 1.8 MMT increase from the previous number. A South Korean importer purchased 19,500 MT of wheat from the US in a tender late last week.
Jul 26 CBOT Wheat is at $5.86 1/2, up 6 1/2 cents,
Sep 26 CBOT Wheat is at $5.98 1/2, up 5 3/4 cents,
Jul 26 KCBT Wheat is at $6.31, up 10 1/4 cents,
Sep 26 KCBT Wheat is at $6.40 1/2, up 9 cents,
Jul 26 MIAX Wheat is at $6.21 1/2, up 2 cents,
Sep 26 MIAX Wheat is at $6.47, up 3/4 cent,
