On Monday, January 8, the wheat complex experienced losses across all exchanges, with Chicago SRW futures down 6 cents, KC HRW futures down 3 to 5 cents, and MPLS spring wheat down 1 to 2 cents. The USDA reported significant changes in wheat data, with US ending stocks raised by 25 million bushels to 926 million bushels and world wheat stocks up by 3.38 million metric tons to 278.25 million metric tons.
Export inspections data indicated wheat shipments totaled 317,465 metric tons (11.66 million bushels) for the week, a 73.03% increase from the previous week and a 2.19% rise from the same week last year. The Philippines was the largest importer, receiving 100,459 metric tons, followed by Mexico with 60,419 metric tons and Taiwan with 39,899 metric tons. Total marketing year shipments reached 15.581 million metric tons (572.52 million bushels), marking a 19.23% year-over-year increase.
The USDA’s Winter Wheat Seedings report indicated total winter wheat acres at 32.99 million acres, a decrease of 163,000 acres from last year. The breakdown includes 23.5 million acres of HRW, 6.14 million acres of SRW, and 3.36 million acres of white wheat.
