**Wheat Market Update – September 25, 2023**
On Monday, wheat prices increased, with Chicago SRW contracts rising 10 to 12.25 cents, KC HRW futures up 9.75 to 11.75 cents, and MPLS spring wheat gaining 2.5 to 5.5 cents. By Sunday, 86% of the U.S. winter wheat crop was harvested, aligning with the normal pace, while the spring wheat crop was 98% headed, 1% ahead of the five-year average, with 5% harvested. Additionally, spring wheat conditions improved to 55% rated good/excellent.
Weekly NASS Crop Progress data reported 335,313 MT of wheat shipments for the week ending July 30, a 19.68% decline from the prior week and less than half of the same week last year. South Korea was the largest importer, receiving 90,198 MT. Year-to-date, wheat exports total 2.907 MMT (106.8 mbu), down 27.36% from the same period last year. A South Korean mill has issued a tender for 50,000 MT of U.S. wheat, with a deadline of Tuesday.
**Closing Prices:**
– CBOT September Wheat: $6.51 (+11.75 cents)
– KCBT September Wheat: $7.17.25 (+9.75 cents)
– MIAX September Wheat: $6.95 (+5.25 cents)
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