Wheat pushed lower across the three markets on Monday, led by spring wheat. CBT prices were 3 to 4 cents lower across most nearbys. KC contracts were 3 to 4 cents in the red at the close MPLS spring wheat was down 8 to 9 cents.
Crop Progress data after the close showed 73% of the US winter wheat crop harvested by Sunday, 1 point ahead of average. Spring wheat was 1% behind normal at 87% headed. Conditions of the northern crop were down 2% to 52% gd/ex, as the Brugler500 index was down 7 to 338.
The Wheat Quality Council Tour is this week and will generate some social media reports on spring wheat prospects.
Bangladesh has signed a memorandum of understanding to purchase 700,000 MT of US wheat on an annual basis over the next 5 years. The total exports from the US to Bangladesh over the last 5 years combined is 648,567 MT
This morning’s USDA weekly export inspections report shows 732,290 MT inspected in the week ending July 17. That was an improvement from 444,631 MT in the previous week, and well above the 290,636 MT loaded out the same week in 2024. Year to date inspections for the marketing year that began June 1 at 3.021 MMT, up 13.7% from year ago.
Sep 25 CBOT Wheat closed at $5.42 1/4, down 4 cents,
Dec 25 CBOT Wheat closed at $5.63 1/4, down 3 3/4 cents,
Sep 25 KCBT Wheat closed at $5.25 3/4, down 3 1/4 cents,
Dec 25 KCBT Wheat closed at $5.48 1/4, down 3 1/4 cents,
Sep 25 MGEX Wheat closed at $5.87 1/2, down 9 cents,
Dec 25 MGEX Wheat closed at $6.09 1/2, down 8 cents,
