Wheat Holds onto Gains on Monday, Ratings Improve


Wheat futures closed higher on Tuesday, buoyed by Black Sea tensions. Chicago SRW rose 5–7 cents, Kansas City HRW gained 6–7 cents, and Minneapolis spring wheat added 1–3 cents. USDA data showed improved crop conditions and faster spring wheat planting. Weekly exports hit 552,910 MT, up 29% year-over-year. Australia’s 2025/26 wheat output is projected to fall 10% to 30.6 MMT.
The wheat market held onto the Monday gains at the close, with contracts posting positive trade. Chicago SRW futures were 5 to 7 cents higher. Kansas City HRW contracts saw 6 to 7 gains at the close. Minneapolis spring wheat futures are were 1 to 3 cents higher. Increased tensions in the Black Sea likely gave the heavily short market some reason to cover.
USDA’s weekly Crop Progress report showed winter wheat now 83% headed, 4 points ahead of normal, with harvest matching the average pace at 3% complete. Condition ratings were back up 2% to 52%, with the Brugler500 index up 4 to 336. The spring wheat crop is now 95% planted, with the average pace at 90%. Emergence was 73%, 4 percentage pints head of the 5-year average. Ratings jumped 5%, all out of the poor/very poor categories, to 50% good/excellent, with the Brugler500 up 14 to 340.
Weekly Export Inspections data tallied wheat shipments at just 552,910 MT (20.32 mbu) in the week that ended on May 29. That was back down 1.79% from the week prior but 29.4% above the same week last year. South Korea was the largest destination of 111,025 MT, with 90,792 MT headed to the Philippines and 81,130 MT to Indonesia. Marketing year shipments are now 21.825 MMT (802 mbu), an increase of 16.59% from the same week last year. USDA’s full year projection is 820 (which includes the products.
Australia’s wheat crop for 2025/26 us estimated at 30.6 MMT according to the country’s ABARES. That would be down 10% from last year if realized.
Jul 25 CBOT Wheat closed at $5.39, up 5 cents,
Sep 25 CBOT Wheat closed at $5.53 1/4, up 5 cents,
Jul 25 KCBT Wheat closed at $5.39 3/4, up 6 1/2 cents,
Sep 25 KCBT Wheat closed at $5.53 1/2, up 6 1/2 cents,
Jul 25 MGEX Wheat closed at $6.27 1/4, up 1 3/4 cents,
Sep 25 MGEX Wheat closed at $6.40 1/4, up 3 cents.
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Source : Nasdaq.com
