Wheat is trading with losses so far on Tuesday morning. The wheat complex closed with contracts mixed across the three markets. Chicago SRW futures saw gains of 3 ¼ to 6 ½ cents on the session. New buying was noted, with open interests up 7,626 contracts. KC HRW futures were steady across the front months and fractionally to 5 cents higher in the deferreds. There were 39 deliveries noted for May KC wheat overnight. MPLS spring wheat was down 2 ½ to 5 cents in most contracts, with nearby May 16 ¼ cents lower.
Crop Progress data showed the US spring wheat crop at 32% planted, now 3 percentage points behind the pace from the last 5 years (35%). Emergence was pegged at 10%. The winter wheat crop was at 49% headed, which was 17 percentage points head of normal. Condition ratings were up 1% to 31% gd/ex, though a 2% increase in poor/very poor ratings was also noted. Brugler500 index was down 1 point to 286.
USDA’s FGIS tallied soybean export shipments at 434,204 MT (15.95 mbu) during the week ending on April 30. That was 17.43% above the week prior and 5.44% above the same week last year. Mexico was the top destination of 146,499 MT, with 75,440 MT headed to Indonesia and 58,735 MT to Thailand. Marketing year exports for 2025/26 are 22.29 MMT (819.2 mbu) since June 1, which is now 11.96% below the same period last year.
May 26 CBOT Wheat closed at $6.29 1/2, up 5 cents, currently up 3 1/2 cents
Jul 26 CBOT Wheat closed at $6.41, up 3 1/4 cents, currently down 5 3/4 cents
May 26 KCBT Wheat closed at $6.82 1/2, unch, currently unch
Jul 26 KCBT Wheat closed at $6.94 1/2, unch, currently down 9 cents
May 26 MIAX Wheat closed at $6.88 1/4, down 16 1/4 cents, currently down 7 cents
Jul 26 MIAX Wheat closed at $6.99, down 5 cents, currently down 4 1/2 cents
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