Wheat contracts showed decreased trading values across the three major markets on July 26, with Chicago SRW down 6 cents at $5.99 ¾, KC HRW down 6 ¾ cents at $6.37 ¼, and MPLS spring wheat down 6 ¼ cents at $6.16 ¾.
According to the Monday morning Export Inspections report, wheat shipments reached 393,150 metric tons (14.45 million bushels) for the week ending June 18, a 9.79% increase from the previous week and over 54.2% higher than the same week last year. The Philippines imported the largest share at 103,317 metric tons, followed by Japan at 83,478 metric tons and South Korea at 43,001 metric tons, bringing total marketing year shipments to 971,031 metric tons (35.68 million bushels), 15.92% above last year’s figures.
As of June 15, French soft wheat quality was estimated at 76% good/excellent, while durum was at 64%. The Ukrainian wheat crop is now estimated at 24.1 million metric tons, an increase of 0.6 million metric tons from earlier forecasts.
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