Wheat prices experienced losses ranging from 3 to 5 cents across most contracts on Monday, with Chicago SRW contracts down up to 5 cents. The Kansas City HRW futures closed down by 4¼ to 10 cents, and open interest saw a decrease of 2,160 contracts. In the U.S., 67% of the winter wheat crop was harvested as of Sunday, which is 6% ahead of the five-year average, while 72% of the spring wheat crop was headed, consistent with the average pace.
In terms of exports, the USDA’s FGIS reported wheat shipment totals of 373,611 metric tons (13.73 mbu) for the week ending July 9, a significant increase from the previous week but down 15.97% from the same time last year. Mexico was the largest destination, importing 114,945 MT, followed by the Philippines with 79,127 MT and Japan with 62,220 MT. Current marketing year exports for 2025/26 stand at 1.893 million metric tons (69.54 mbu), down 17.32% compared to the previous year.
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