The US wheat markets ended Tuesday weaker. In Chicago, September SWR wheat was down 5.00 US cents to close at 513.00 US cents/bushel and December lost 6.00 US cents to 528.25 US cents/bushel. In Kansas City, September HRW wheat was down 9.50 US cents at 483.25 US cents/bushel, and the December maturity also lost significantly. Spring wheat in Minneapolis followed the downward trend and fell by 5.00 to 6.00 US cents.
Fundamentally, the weekly export inspections had a mixed effect: at 802,780 tons, exports were up almost 39 per cent year-on-year, but remained a good 21 per cent below the previous week. The largest buyers were Mexico, Japan and Vietnam. For the year to date, deliveries total 6.64 million tons, an increase of 14.5% compared to the previous year. The Crop Progress report did not provide any support either: the spring wheat harvest is already well advanced at 72% above average, while the new sowing season for winter wheat is imminent.
On Euronext, December wheat lost €1.75 to €190.00 per tonne.
