The wheat market surged on Monday, with Chicago SRW futures rising by 17 ¾ to 28 ¾ cents, and KC HRW futures increasing by 13 to 16 ¼ cents. The MPLS spring wheat also saw gains of 16 ¼ to 18 ¼ cents. This uptick follows the White House’s release of a fact sheet regarding US-China agricultural discussions.
As of May 14, the US spring wheat crop is reported at 73% planted, surpassing the 5-year average of 66%. Wheat export inspections totaled 223,972 metric tons for the same week, a decrease of 56.23% from the previous week and down 48.08% compared to last year. The top export destinations included the Philippines, Mexico, and Japan.
The White House stated that China is committed to purchasing at least $17 billion annually of US agricultural products from 2026 to 2028, in addition to prior soybean commitments made in October 2025.
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