Wheat futures slipped modestly on Tuesday, with Chicago SRW contracts falling 2.5 to 4.25 cents, KC HRW down 2.5 to 3.25 cents, and MPLS spring wheat losing 2.25 to 5.5 cents.
According to the latest NASS Crop Progress report, 51% of the winter wheat crop had been planted by Sunday, lagging the five‑year average by 7 percentage points, while emergence stood at 27%.
Tuesday’s Export Inspections report recorded 304,660 metric tons (11.19 million bushel units) of wheat shipped during the week of October 8, a slight 0.66% increase week‑over‑week but still 31.92% lower than the same week last year. South Korea led demand with 75,240 MT, followed by Mexico (72,047 MT) and Sri Lanka (67,640 MT). Year‑to‑date shipments now total 6.977 MMT (256.35 mbu), which remains 35.87% below the comparable period in the previous year.
In a separate development, Algeria announced a tender purchase of nearly 600,000 MT of wheat on Tuesday. The French agriculture ministry revised its 2026 wheat crop estimate to 31.5 MMT, a reduction of 0.2 MMT from the previous month’s projection.
Key closing prices: Dec 26 CBOT Wheat at $6.69¼, down 3 cents; Mar 27 CBOT Wheat at $6.83¼, down 2¾ cents; Dec 26 KCBT Wheat at $7.12¼, down 3 cents; Mar 27 KCBT Wheat at $7.25, down 3 cents; Dec 26 MIAX Wheat at $6.94, down 2¼ cents; and Mar 27 MIAX Wheat at $7.125, down 2¼ cents.
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