The wheat market saw a decline across major exchanges, with Chicago SRW contracts down by up to 5 cents and KC HRW futures dropping between 4.25 to 10 cents. The Minneapolis spring wheat showed steadiness, with September contracts up by 0.75 cents while others fell by as much as 4.75 cents.
As of July 9, data from NASS indicated that 67% of the U.S. winter wheat crop was harvested, which is 6% ahead of the average. The spring wheat crop was 72% headed, matching the 5-year trend, while conditions rated 58% good/excellent, a slight increase.
In exports, USDA’s FGIS reported shipments at 373,611 metric tons during the week ending July 9, an increase from the previous week but down 15.97% year-over-year. Key destinations included Mexico (114,945 MT), the Philippines (79,127 MT), and Japan (62,220 MT). Year-to-date exports for 2025/26 stand at 1.893 million metric tons, 17.32% lower than last year.
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