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Wheat Market Ends Monday on a Mixed Note

Wheat futures finished Monday with a mixed tone across the major U.S. markets. Chicago SRW contracts ended the session with fractional gains and losses, while KC HRW futures posted modest strength, closing 1 to 4 ¼ cents higher. Minneapolis spring wheat was weaker, with nearby contracts slipping 1 ¼ to 3 ¼ cents.

The latest NASS Crop Progress report showed the U.S. winter wheat harvest reaching 96% completion as of Sunday. That was 2 percentage points ahead of the normal pace. Spring wheat harvest progress also remained ahead of schedule, with 41% of the crop harvested compared with the five-year average of 34%.

Spring wheat conditions improved slightly during the week. The good-to-excellent rating increased 1 percentage point to 52%, while the Brugler500 index climbed 5 points to 344.

U.S. wheat export inspections showed another solid week of movement. Shipments for the week ending August 13 totaled 493,401 metric tons, or roughly 18.13 million bushels. That was 1.54% above the previous week’s total and 22.43% higher than the same week last year.

Japan was the leading destination during the week, taking 142,358 metric tons. Mexico followed with 114,636 metric tons, while Indonesia received 75,437 metric tons.

Despite the stronger weekly shipment pace, cumulative wheat exports for the current marketing year remain behind last year’s level. Total shipments have reached 3.89 million metric tons, equivalent to about 142.9 million bushels, putting the season’s total 19.29% below the same point last year.

Overall, Monday’s trade reflected a combination of steady export demand and favorable harvest progress, with spring wheat markets facing some pressure while winter wheat harvest activity continues to move ahead of the usual pace