On Wednesday, the wheat complex is experiencing losses, with Chicago SRW futures down 12 to 13 cents, KC HRW futures declining by 6 to 7 cents, and MPLS spring wheat losing 6 to 8.25 cents. Crop Progress data reveals that 89% of the US spring wheat crop has been planted, outperforming the 5-year average of 79%. Emergence rates are at 56%, with Montana lagging behind in progress.
The winter wheat crop is 78% headed, exceeding the normal rate by 8 percentage points, though condition ratings have decreased to 26% rated good/excellent. The Brugler500 index dropped to 268, with HRW states averaging 218, marking a record low for this week. A South Korean flour mill has purchased 100,000 MT of wheat from the US and Canada, while the European Commission projects a decrease in the EU’s 2026/27 wheat output to 126.9 MMT.
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