Wheat is starting out September with contracts mixed, but holding within a few cents of unchanged. Futures are at least 10 to 15 cents off the overnight highs. The wheat complex is facing some month‑end pressure to close out August. Chicago SRW contracts posted losses of 3¾ to 10¼ cents, trading 15 to 18 cents below the overnight lows. Open interest fell by 938 contracts, indicating modest profit‑taking. There were another 9 delivery notices against September CBT wheat overnight. KC HRW futures slipped 1½ to 7½ cents in the nearby months, while deferred contracts rose 1 to 11 cents; open interest increased by 2,470 contracts. Overnight, 60 delivery notices were issued for September KC wheat. MPLS spring wheat ended the session down 2 to 6¼ cents.
Over the weekend, Turkey reportedly pressed for a Black Sea shipping corridor to help restore limited grain flows.
The weekly NASS Crop Progress report indicated that 77% of the U.S. spring wheat crop had been harvested by Sunday, running 9 percentage points ahead of the five‑year average.
Monday’s Export Inspections report showed wheat shipments of 430,925 MT (15.83 million bushels) for the week ending August 27, slightly below the prior week and 46.46% lower than the same week last year. The Philippines was the leading destination with 131,831 MT, followed by Taiwan at 100,544 MT and Mexico at 70,756 MT. Cumulative shipments for the marketing year total 4.777 MMT (175.52 million bushels), down 28.4% from the same period a year ago.
Sep 26 CBOT Wheat closed at $7.56 1/2, down 10 1/2 cents, currently up 3 1/4 cents
Dec 26 CBOT Wheat closed at $7.74, down 10 cents, currently up 1 3/4 cents
Sep 26 KCBT Wheat closed at $8.20 1/4, down 7 1/2 cents, currently down 3/4 cent
Dec 26 KCBT Wheat closed at $8.38, down 6 1/4 cents, currently down 1 cent
Sep 26 MIAX Wheat closed at $7.39 1/4, down 6 cents, currently down 1/2 cent
Dec 26 MIAX Wheat closed at $7.63, down 6 1/4 cents, currently up 3/4 cents
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