Wheat Falling Lower on Monday

The wheat complex is falling lower on Monday, extending the overnight weakness. Chicago SRW wheat are down 9 to 10 cents at midday. KC HRW contracts are posting 9 to 13 cent losses so far on Monday. MPLS spring wheat is 8 to 9 cents lower to kick off the week.
Export Inspections data showed 436,628 MT (16.04 mbu) of wheat shipped in the week that ended on July 3, which was down 8.38% from the week prior, but still up 27.16% from the same week last year. Mexico was the top destination of 71,753 MT, with 63,265 MT headed to Brazil. Marketing year shipments have totaled 1.758 MMT (64.6 mbu) since June 1, 1.5% larger yr/yr.
As part of trade negotiations with the US, Indonesia Flour Mills have signed a memorandum of understanding to purchase 1 MMT of wheat per year from the US from 2026-2030, with another 800,000 MT for the remainder of 2025. Last year shipments to Indonesia totaled 838,770 MT, with 286,082 MT shipped in 2023.
FranceAgriMer estimates the French wheat crop at 67% gd/ex, with the crop at 11% harvested. Russia cut their export tax on wheat to 0% in their latest update, taking it back to 2021 levels when it began.
Jul 25 CBOT Wheat is at $5.38, down 9 3/4 cents,
Sep 25 CBOT Wheat is at $5.47 1/2, down 9 1/4 cents,
Jul 25 KCBT Wheat is at $5.05, down 13 cents,
Sep 25 KCBT Wheat is at $5.27, down 9 cents,
Jul 25 MGEX Wheat is at $6.30, unch,
Sep 25 MGEX Wheat is at $6.38 1/2, down 8 3/4 cent,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.