The wheat complex is trading with mixed action on Monday. Chicago SRW contracts are up 2 to 3 cents so far on the day. KC HRW futures are showing steady to penny losses at Monday’s midday. MPLS spring wheat is down 5 to 6 cents at midday. Crude oil is down $4.27 at midday, and provided early pressure after the US and Iran came to a peace deal over the weekend.
USDA’s FGIS tallied wheat export shipments at 334,292 MT (12.28 mbu) during the week ending on June 11. That was up 3.39% from the week prior but 14.01% below the same week last year. South Korea was the top destination of 105,822 MT, with 54,444 MT headed to Mexico and 53,202 MT to the Philippines. Marketing year exports for 2026/27 are 554,075 MT (20.36 mbu) in the first 11 days of the new MY, which is now 6.1% below the same period last year.
