Wheat futures settled mixed on Monday, with winter wheat contracts firming while spring wheat declined. Chicago SRW futures gained up to 4 cents, KC HRW futures rose fractionally to 2.75 cents except for a half-cent loss in the September contract, and MPLS spring wheat fell 1.25 to 9.5 cents. The USDA's weekly Crop Progress report showed the US winter wheat harvest at 91% complete, matching the five-year average, while spring wheat harvest reached 24%, ahead of the 19% average pace, though spring wheat conditions slipped 4 percentage points to 51% good-to-excellent. Export inspections for the week ending August 6 totaled 421,277 metric tons, up 24.36% from the prior week and 1.55% above the same week last year, but cumulative marketing-year shipments of 3.332 million metric tons remain 24.56% behind last year's pace. Analysts surveyed by Reuters expect Wednesday's USDA Crop Production report to show total US wheat production at 1.525 billion bushels, an 11-million-bushel cut from July, with winter wheat at 981 million bushels and spring wheat at 468 million bushels, while ending stocks are projected at 715 million bushels, down 7 million from last month. APK-Inform lowered its Ukrainian wheat export forecast for 2026/27 to 13.5 million metric tons, contributing to a 3.7-million-ton reduction in total grain exports to 39.4 million metric tons.
Mixed close with HRW wheat rising fractionally, awaiting USDA report
Mixed close with winter wheat firming, awaiting USDA report
