The wheat complex traded mixed on Tuesday, with Chicago SRW futures down 8 to 9 cents and KC HRW futures dropping 3 to 4 ¼ cents. In contrast, MPLS spring wheat gained 3 to 5 cents.
The USDA reported wheat export shipments at 368,455 metric tons (13.54 million bushels) for the week ending May 21, which is 55.89% higher than the previous week but 34.55% lower than the same week last year. Japan was the top destination, importing 73,894 metric tons, followed by Mexico with 68,058 metric tons and the Dominican Republic with 59,059 metric tons. Current marketing year exports for 2025/26 stand at 23.48 million metric tons (862.7 million bushels), 10.17% above last year during the same period.
Crop Progress data is expected to show 87% of spring wheat planted, with winter wheat conditions at 28% good/excellent, a 1-point increase from last week. Managed money trimmed their net long position in CBT wheat futures by 14,224 contracts to 4,799 contracts as of May 19. South Korea’s flour mill tendered for 100,000 metric tons of wheat from the U.S. and Canada, with offers due Wednesday.
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