Wheat prices fell on Monday, with Chicago Board of Trade (CBOT) contracts down 13 to 15 cents by midday. Kansas City (KCBT) hard red winter wheat also decreased by 12 to 13 cents, while Minneapolis (MGEX) spring wheat dropped 13 to 15 cents.
The USDA’s Export Inspections report indicated that a total of 254,782 MT of wheat was shipped during the week of June 19, marking a decrease of 34.44% from the previous week and 26.08% from the same week in 2024. Japan was the top recipient with 80,169 MT, followed by Mexico with 65,970 MT. Year-to-date shipments now stand at 844,686 MT, representing a 19.82% decline compared to the same period last year.
Additionally, the USDA is set to release weekly Crop Progress data this afternoon, with spring wheat conditions stable at 57% rated good/excellent and winter wheat unchanged at 52%. Harvest progress is at 21% completion. In Russia, the wheat crop is estimated at 84.8 MMT, an increase of 4.5 MMT from prior estimates.
