The wheat complicated fell on Monday, popping out of the lengthy weekend on a bitter notice. Chicago SRW wheat was down 8 to 9 cents. KC HRW contracts posted 8 to 10 cent losses on Monday. MPLS spring wheat was 9 to 10 cents decrease to kick off the week.
USDA’s Crop Progress knowledge confirmed the US winter wheat crop at 53% harvested, behind the 53% common. Situations had been unchanged at 48% gd/ex because the Brugler 500 index was up 2 factors to 331. The spring wheat crop was 61% headed, forward of the 58% common. Spring wheat circumstances had been down 3% to 48% gd/ex, with the Brugler500 iindex down 8 to 337.
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Export Inspections knowledge confirmed 436,628 MT (16.04 mbu) of wheat shipped within the week that ended on July 3, which was down 8.38% from the week prior, however nonetheless up 27.16% from the identical week final 12 months. Mexico was the highest vacation spot of 71,753 MT, with 63,265 MT headed to Brazil. Advertising and marketing 12 months shipments have totaled 1.758 MMT (64.6 mbu) since June 1, 1.5% bigger yr/yr.
As a part of commerce negotiations with the US, Indonesia Flour Mills have signed a memorandum of understanding to buy 1 MMT of wheat per 12 months from the US from 2026-2030, with one other 800,000 MT for the rest of 2025. Final 12 months shipments to Indonesia totaled 838,770 MT, with 286,082 MT shipped in 2023. President Trump launched an announcement later within the day, elevating the tariffs on Indonesian items to 32% on August 1. Tariffs on items from South Korea and Japan can be raised to 25%.
The delayed Dedication of Merchants report confirmed a complete of 1,596 contracts trimmed from the Chicago Spec Fund web brief place by July 1 to 63,071 contracts. In KC wheat, they lower 1,114 contracts from their as soon as report web brief to 42,348 contracts.
FranceAgriMer estimates the French wheat crop at 67% gd/ex, with the crop at 11% harvested. Russia lower their export tax on wheat to 0% of their newest replace, taking it again to 2021 ranges when it started.
Jul 25 CBOT Wheat closed at $5.39 3/4, down 8 cents,
Sep 25 CBOT Wheat closed at $5.48 1/2, down 8 1/4 cents,
Jul 25 KCBT Wheat closed at $5.08 1/2, down 9 1/2 cents,
Sep 25 KCBT Wheat closed at $5.27 1/2, down 8 1/2 cents,
Jul 25 MGEX Wheat closed at $6.20 3/4, down 9 1/4 cents,
Sep 25 MGEX Wheat closed at $6.37 1/4, down 10 cents,
On the date of publication,
Austin Schroeder
didn’t have (both instantly or not directly) positions in any of the securities talked about on this article. All info and knowledge on this article is solely for informational functions.
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