The wheat complex experienced losses on Monday, with Chicago SRW futures down between 2 ¾ to 7 ½ cents, while KC HRW futures decreased by up to 3 cents. The Kansas Crop Progress report indicated that winter wheat conditions fell 6% to 46% rated good/excellent, with the Brugler500 index decreasing by 11 points to 328.
According to USDA’s FGIS, wheat export shipments for the week ending March 19 totaled 458,411 metric tons (16.84 million bushels), marking a 33.39% increase from the previous week but a 5.53% decline compared to the same week last year. Mexico was the leading destination, receiving 128,882 MT, followed by China with 68,376 MT and Taiwan with 50,093 MT. Year-to-date exports for the 2025/26 marketing year have reached 19.93 million metric tons (732.3 million bushels), which is 17.98% higher than the same period last year.
On the geopolitical front, President Trump requested the military to delay military strikes on Iranian infrastructure for five days following “good and productive” talks. This news coincided with a $9.36 decrease in crude oil prices on the same day.
