Wheat Posts Double Digit Losses to Start the Week
Wheat futures posted losses Monday, with Chicago SRW down 8-10 cents, Kansas City HRW dropping 10-11 cents, and MPLS spring wheat falling 11-13 cents. U.S. wheat shipments for the week totaled 484,701 MT, 12% above last year. Taiwan is tendering for 100,000 MT of U.S. wheat, while Russia raised its 2025 wheat crop estimate to 82.5 MMT.
The wheat market posted losses across the three markets on Monday. Chicago SRW futures were down 8 to 10 cents in the front months at the close. Kansas City HRW contracts were 10 to 11 cents in the red on the day. MPLS spring wheat was 11 to 13 cents lower.
Individual state Crop Progress reports showed KS winter wheat rated 49% gd/ex, up 1%, with a Brugler500 index up 3 points to 334. Ratings in TX were up 3% at 31% gd/ex and 5 points higher on the Brugler500 at 288.
This morning’s Export Inspections report from FGIS showed a total of 484,701 MT (17.81 mbu) of wheat shipped in the week that ended on March 20. That was down 2.11% from the previous week but 12% above the same week last year. Of that total, 85,183 MT was headed to the Philippines, with 71,933 MT destined for Mexico. Marketing year shipments have totaled 16.854 MMT (619.3 mbu) since June 1, 2024, which is 17.99% above the same period last year.
Taiwan is tendering for 100,000 MT of US wheat, with the deadline issued for Thursday. Russian firm IKAR raised their 2025 wheat crop estimate by 1.5 MMT to 82.5 MMT on Monday.
May 25 CBOT Wheat closed at $5.48 1/4, down 10 cents,
Jul 25 CBOT Wheat closed at $5.65 1/4, down 9 1/4 cents,
May 25 KCBT Wheat closed at $5.78, down 10 3/4 cents,
Jul 25 KCBT Wheat closed at $5.93, down 10 1/2 cents,
May 25 MGEX Wheat closed at $5.92 1/4, down 12 3/4 cents,
Jul 25 MGEX Wheat closed at $6.09 1/4, down 11 1/2 cents,
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Source : Barchart
