According to Monday’s Crop Progress report, 63% of the U.S. winter wheat crop has been harvested, 1% behind the 5-year average. The spring wheat crop is 78% headed, which is 3% ahead of normal. Conditions improved by 4%, with 54% rated good to excellent. The Brugler500 index rose 4 points to 345.

Export Inspections for the week ending July 10 showed 438,533 MT (16.15 million bushels) of wheat exports, down 15.84% from the previous week and 29.34% lower than the same week in 2024. Mexico was the top buyer with 162,639 MT, followed by the Philippines with 65,999 MT and South Korea with 36,121 MT. Total marketing year exports are now 2.283 MMT (83.9 million bushels), 3.04% below the same time last year.

Over the weekend, President Trump announced a 30% tariff on the EU and Mexico effective August 1. On Monday, he threatened Russia with secondary tariffs on its trading partners if a resolution to the war in Ukraine is not achieved within 50 days.

A flour mill in Taiwan issued a tender to purchase 89,650 MT of U.S. wheat.