Wheat markets showed slight recovery on Tuesday morning following a rough start to the week, where Chicago SRW futures dropped between 2.75 to 7.5 cents. The Kansas Crop Progress report revealed that winter wheat conditions declined by 6% to 46% rated as good/excellent. Open interest saw a reduction, with Chicago SRW down by 1,680 contracts and KC HRW down by 3,526 contracts.
During the week ending March 19, USDA’s FGIS reported wheat export shipments at 458,411 metric tons (16.84 million bushels), marking a 33.39% increase from the previous week but a 5.53% decrease compared to the same week last year. Mexico was the largest recipient, importing 128,882 metric tons, followed by China with 68,376 metric tons and Taiwan with 50,093 metric tons. Year-to-date exports for the 2025/26 marketing year stand at 19.93 million metric tons, which is 17.98% ahead of the same period last year.
As of May 26, the closing prices for major wheat contracts were: CBOT Wheat at $5.87 ¾ (down 7.5 cents), KCBT Wheat at $6.03 ¼ (down 3 cents), and MIAX Wheat at $6.27 (down 1 cent).
