Wheat International Market
23-Jun-2026 08:32 AM
Wheat International Market
According to NASS, 40% of the U.S. winter wheat crop had been harvested by June 21, running 16 percentage points ahead of the normal pace. Good-to-excellent ratings declined by 1 percentage point to 26%, while the Brugler500 Index fell 3 points to 264. The spring wheat crop was 16% headed, matching the 5-year average, with condition ratings slipping 1 point to 54% good-to-excellent.
U.S. wheat export inspections for the week ending June 18 totaled 393,150 MT (14.45 million bushels), up 9.79% from the previous week and 54.2% higher than the same week last year. The Philippines was the largest destination, followed by Japan and South Korea. Marketing year wheat shipments reached 971,031 MT (35.68 million bushels), up 15.92% from the same period last year.
CFTC data showed managed money traders reduced their net short position in Chicago wheat by 9,786 contracts to 69,531 contracts. In Kansas City wheat, funds shifted back to a net long position of 7,620 contracts after buying 12,163 contracts.
According to FranceAgriMer, 76% of the French soft wheat crop was rated good-to-excellent as of June 15, down 1 percentage point from the previous week. Durum wheat was rated 64% good-to-excellent. Argus increased its estimate for Ukraine’s wheat crop to 24.1 MMT, up 0.6 MMT from its previous forecast.