The wheat complex experienced mixed trading on Monday, with spring wheat contracts showing the weakest performance. Chicago SRW contracts increased by 3.75 to 5.75 cents, while KC HRW futures gained 3.5 to 5.5 cents. In contrast, MPLS spring wheat declined by 1.5 to 2.75 cents by the market close.
As of Sunday, 95% of the US winter wheat crop was reported headed, 4% ahead of average, with 25% harvested compared to a 13% average pace. Winter wheat conditions improved, increasing 2% to 27% rated good/excellent, with the Brugler500 index rising 4 points to 267. Meanwhile, the spring wheat crop was 95% emerged, 6% ahead of the average, with 55% rated good/excellent, reflecting a 3% increase.
Wheat export shipments totaled 334,292 metric tons during the week ending June 11, up 3.39% from the previous week but down 14.01% from the same period last year. South Korea was the largest importer at 105,822 metric tons, followed by Mexico and the Philippines. Additionally, Algeria has issued a tender for wheat imports with a deadline for offers this Wednesday.
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