Wheat Ends Tuesday New Contract Lows
Wheat futures declined across all major exchanges Tuesday. KC wheat led losses, dropping 12–12.5 cents, while CBOT fell 8.5–10 cents and MGEX dipped 2–4 cents. June wheat exports hit a four-year high at 1.719 MMT, though down 20% from May. U.S. spring wheat condition slipped to 48% good/excellent.
The wheat complex pushed lower across the three exchanges on Tuesday, led by the KC market, down 12 to 12 ½ cents in the front months. CBT futures were 8 to 9 to 10 cents lower in the front months. MPLS spring wheat was down 2 to 4 cents on the day.
June trade data from Census showed a total of 1.719 MMT of wheat shipped during the month, which was a 4-year high but down 20.42% from last month.
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Crop Progress data from USDA showed spring wheat conditions listed at 48% gd/ex, down 1%, as the Brugler500 index was steady at 332. The only state to see improvement was ND, up 4, with MN down 1, MT and WA slipping 2, SD falling 7 and ID down 11.
A South Korean importer purchased 65,000 MT of wheat from the US in a private deal overnight. The European Commission estimates the 2025/26 soft wheat exports since July 1 at 1.11 MMT as of 8/3, compared to the 2.64 MMT in the same period last year.
Sep 25 CBOT Wheat closed at $5.08 1/4, down 8 1/2 cents,
Dec 25 CBOT Wheat closed at $5.28 1/2, down 8 1/2 cents,
Sep 25 KCBT Wheat closed at $5.04 1/2, down 12 1/2 cents,
Dec 25 KCBT Wheat closed at $5.25 1/4, down 12 1/4 cents,
Sep 25 MGEX Wheat closed at $5.70 1/4, down 2 3/4 cents,
Dec 25 MGEX Wheat closed at $5.93 1/2, down 3 1/2 cents .
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Source : Nasdaq.com
