The wheat complex was mixed across the three exchanges on Monday with HRW weakness. Chicago SRW futures were up 3 ¾ to 7 ¼ cents across the board. KC HRW futures were 1 1/2 to 2 1/2 cents lower on Monday. MPLS spring wheat was steady to 4 cents higher.
Crop Progress data showed the US spring wheat at 12% planted, matching the normal pace from the last 5 years. Emergence was pegged at 2%. The winter wheat crop was at 20% headed, which was 8 percentage points head of normal. Condition ratings dropped 4 percentage points to 30%, with the Brugler500 index down 5 points to 290.
Monday morning’s Export Inspections report showed 518,141 MT (19.04 mbu) of wheat shipped in the week of 4/16. That was 90.19% above the week prior and 1.55% larger than the same week last year. The Philippines was the largest destination of 96,000 MT, with 91,030 MT shipped to Mexico and 57,799 MT to Indonesia. The marketing year total is now 21.491 MMT (790 mbu) of soybeans shipped since June 1, which is 14% below the same period last year.
May 26 CBOT Wheat closed at $5.97, up 5 3/4 cents,
Jul 26 CBOT Wheat closed at $6.06, up 6 3/4 cents,
May 26 KCBT Wheat closed at $6.35, down 1 3/4 cents,
Jul 26 KCBT Wheat closed at $6.47 1/2, down 2 1/2 cents,
May 26 MIAX Wheat closed at $6.55 1/4, up 2 cents,
Jul 26 MIAX Wheat closed at $6.72 1/4, up 2 cents,
