The wheat complex posted mixed trade on Wednesday, with the winter wheats facing some weakness. Chicago SRW futures saw losses of 4 to 11 cents in most contracts at the close. KC HRW futures closed mixed, with front months down 2 ¾ to 5 ¾ cents and deferreds higher. MPLS spring wheat was a penny to 4 cents in the green.
USDA’s FGIS tallied wheat export shipments at 368,455 MT (13.54 mbu) during the week ending on May 21. That was 55.89% above the week prior but down 34.55% below the same week last year. Japan was the top destination of 73,894 MT, with 68,058 MT headed to Mexico and 59,059 MT to the Dominican Republic. Marketing year exports for 2025/26 are 23.48 MMT (862.7 mbu) since June 1, 2025, which is now 10.17% above the same period last year.
Crop Progress data showed the US spring wheat crop at 89% planted, 7 percentage points ahead of the 5-year average pace of 79%. Emergence was pegged at 56%. The winter wheat crop was at 78% headed, which was 8 percentage points head of normal. Condition ratings were down 1% to 26% gd/ex. The Brugler500 index was down 3 points to 268.
A South Korean flour mill tendered for 100,000 MT of wheat from the US and Canada, with the tender due on Wednesday. European Commission data showed the 2026/27 wheat output in the EU projected at 126.9 MMT< a 0.4 MMT drop from the pervious estimate. Stocks are seen at 14.1 MMT, a 0.5 MMT cut from last month.
Jul 26 CBOT Wheat closed at $6.35 1/2, down 10 3/4 cents,
Sep 26 CBOT Wheat closed at $6.48 1/4, down 11 cents,
Jul 26 KCBT Wheat closed at $6.76 1/4, down 5 3/4 cents,
Sep 26 KCBT Wheat closed at $6.88, down 5 1/4 cents,
Jul 26 MIAX Wheat closed at $6.92 3/4, up 2 1/4 cents,
Sep 26 MIAX Wheat closed at $7.14 1/4, up 4 cents,
