State Crop Progress data showed Kansas winter wheat ratings improving by 4% to 70% good/excellent, with the Brugler500 index rising 9 points to 375.

USDA reported wheat export shipments at 393,341 MT (14.45 million bushels) for the week ending December 4—1.95% above the previous week and 58.6% larger than the same week in 2024. Mexico was the top destination at 75,789 MT, followed by Indonesia (75,174 MT) and Vietnam (68,038 MT). Marketing year shipments for 2025/26 have reached 13.634 MMT (500.96 million bushels), 20.91% higher than last year.

Export Sales for the week ending November 6 totaled 462,478 MT, within expectations of 250,000–600,000 MT. Although this was a 3-week low, it was still 21.69% higher than the same week last year.

USDA’s WASDE report will be issued Tuesday. Analysts expect U.S. ending stocks at 894 million bushels—7 million below last year if realized.

Argus projects Ukraine’s 2026/27 wheat crop at 23.9 MMT, up 0.9 MMT from the previous season.