Wheat Faces Modest Tuesday Weakness, with Export Drag Continuing

The wheat complex saw weakness across the board on Tuesday. Chicago SRW contracts closed the day with losses of 2 ½ to 4 ¼ cents . KC HRW futures were 2 ½ to 3 ¼ cents in the red on Tuesday. MPLS spring wheat saw losses of 2 ¼ to 5 ½ cents at the close.

Weekly NASS Crop Progress data showed 51% of winter wheat crop was planted as of Sunday, lagging the 5 year average for planting pace by 7 percentage points. Emergence was at 27%.

Tuesday morning’s Export Inspections report showed wheat shipments of 304,660 MT (11.19 mbu) in the week of 10/8. That was up 0.66% from the week prior but 31.92% below the same week last year. South Korea was the largest destination of 75,240 MT, with 72,047 MT shipped to Mexico and 67,640 MT headed to Sri Lanka. The marketing year total is now 6.977 MMT (256.35 mbu) of shipments, which is now 35.87% below the same period last year.

Algeria purchased nearly 600,000 MT of wheat in their tender on Tuesday. The French farm ministry estimates the 2026 wheat crop at 31.5 MMT, a 0.2 MMT drop from last month. 

Dec 26 CBOT Wheat  closed at $6.69 1/4, down 3 cents,

Mar 27 CBOT Wheat  closed at $6.83 1/4, down 2 3/4 cents,

Dec 26 KCBT Wheat  closed at $7.12 1/4, down 3 cents,

Mar 27 KCBT Wheat  closed at $7.25, down 3 cents,

Dec 26 MIAX Wheat  closed at $6.94, down 2 1/4 cents,

Mar 27 MIAX Wheat  closed at $7.12 1/2, down 2 1/4 cents,