On Tuesday, the wheat complex experienced declines across the board, with Minneapolis spring wheat leading the drop, closing down 14 to 24 3/4 cents. Chicago SRW contracts fell by 8 1/4 to 10 3/4 cents, and Kansas City HRW futures recorded a loss of 13 to 15 1/4 cents.
According to NASS Crop Progress data, 40% of the U.S. winter wheat crop was harvested as of Sunday, 16% ahead of the five-year average. The Brugler500 index for winter wheat conditions declined 3 points to 264, while spring wheat conditions stood at 54% good/excellent, down 1%. Sovecon estimated the Russian wheat crop for 2026/27 at 88.9 million metric tons, a decrease of 1.4 million metric tons from previous projections.
Closing prices on July 26 for key wheat contracts included: CBOT Wheat at $5.86 3/4 (down 10 3/4 cents), KCBT Wheat at $6.18 1/4 (down 15 1/4 cents), and MIAX Wheat at $5.88 (down 24 3/4 cents).
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