The wheat complex is posting losses out of the long weekend. Chicago SRW futures are down 13 to 14 cents as the market trades through midday. The Kansas City HRW contracts are facing losses of 14 to 15 so far on the Tuesday session. Minneapolis spring wheat futures are trading with losses of 9 to 11 cents at midday.

USDA’s Export Inspections report indicated a total of 561,980 (20.65 mbu) of wheat shipped in the week that ended on 5/22. That was up 30.29% from the previous week and 40.88% above the same week in 2024. South Korea was the largest destination of 133,130 MT, with 67,957 MT headed to Indonesia, and 57,759 MT to Venezuela. Marketing year shipments have totaled 21.27 MMT (718.6 mbu) with just over 1 reporting week left in the MY, which is up 16.28% compared to the same week last year.

Ahead of the Crop Progress report this afternoon, analysts estimate the spring wheat crop will be tallied at 91% planted. Ratings are expected to be reported at 70% gd/ex. Winter wheat conditions are expected to be steady at 52%.

Rains fell over a good portion of the Plains this weekend. From NE to the norther parts of TX.

Commitment of Traders data showed spec traders in Chicago wheat futures and options at a net short of 108,893 contracts as of Tuesday, down 18,002 contracts from the week prior. In KC wheat, managed money held a net short of 80,162 contracts on May 20, a 637 contract reduction from the previous week’s record. 

Jul 25 CBOT Wheat  is at $5.28 1/2, down 14 cents,

Sep 25 CBOT Wheat  is at $5.44 1/2, down 13 1/2 cents,

Jul 25 KCBT Wheat  is at $5.24 1/2, down 14 1/4 cents,

Sep 25 KCBT Wheat  is at $5.39 1/2, down 14 1/4 cents,

Jul 25 MGEX Wheat  is at $5.97, down 9 1/2 cents,

Sep 25 MGEX Wheat  is at $6.10 1/2, down 10 1/4 cents,