Wheat held gains into Tuesday’s close, as contracts were following up the Monday strength on the acreage cut. Chicago SRW futures were 3 to 4 cents higher on the day. Kansas City HRW contracts were 6 to 9 cents in the green at the close. MPLS spring wheat was up 2 to 4 cents in the nearby contracts at the final bell. 

Individual state Crop Progress reports showed KS winter wheat steady at 49% gd/ex, with a Brugler500 index unchanged at 334. Ratings in TX were up down 5% at 26% gd/ex and 3 points lower on the Brugler500 at 285. Weekly NASS national Crop Progress reports will begin next Monday. Precip is expected to cover a good portion of the Southern Plains and SRW country in the next week.

EU soft wheat export shipments for the marketing year starting last July have totaled 15.68 MMT. That is well below the 24.54 MMT shipped in the same week last year. Ukraine is leaving their 2024/25 wheat export restriction at 16.2 MMT for the MY that ended in June, as ~13 MMT have already been shipped. 

May 25 CBOT Wheat  closed at $5.40 1/2, up 3 1/2 cents,

Jul 25 CBOT Wheat  closed at $5.53 3/4, up 3 1/4 cents,

May 25 KCBT Wheat  closed at $5.65 1/4, up 8 1/4 cents,

Jul 25 KCBT Wheat  closed at $5.76 3/4, up 6 3/4 cents,

May 25 MGEX Wheat  closed at $5.94, up 2 cents,

Jul 25 MGEX Wheat  closed at $6.10, up 3 1/4 cents,