The wheat complex fell lower on Tuesday, as USDA added some bushels to the winter wheat output. CBT soft red wheat futures led the charge lower, down 9 to 10 cents in the nearbys. KC HRW futures were down 7 to 8 1/4 cents in the front months. MPLS spring wheat was the firmest, down just fractionally.

USDA trimmed the US wheat production total by just 2 mbu to 1.927 billion bushels in this morning’s Crop Production report. Winter wheat was raised by 10 mbu to 1.355 bbu, with spring wheat down 20 mbu. For the balance sheet, the food use total was trimmed by 5 mbu, with exports hiked by 25 mbu. New crop carryout as trimmed by 21 mbu to 869 mbu. World carryout for wheat was down 1.44 MMT to 260.08 MMT.

Crop Progress data from USDA showed the US winter wheat 90% harvested, with 91% the normal harvest pace. The spring wheat harvest was 16% complete, behind the 22% average. Conditions were listed at 49% gd/ex, back up 1%, though the Brugler500 index was down 1 at 331 on higher very poor ratings. The Dakotas and MN saw improvement in ratings, with the 3 western states seeing deterioration.

A South Korean mill tendered for 50,000 MT of wheat from the US, with offers due on Wednesday. SovEcon estimates the Russian wheat crop at 85.2 MMT, a 1.9 MMT increase from the previous number on increased acreage. The European Commission shows the EU 2025/26 soft wheat exports at 1.43 MMT since July 1 to August 10, which lags the 3.28 MMT in the same period last year. 

Sep 25 CBOT Wheat  closed at $5.05, down 10 cents,

Dec 25 CBOT Wheat  closed at $5.26, down 9 1/2 cents,

Sep 25 KCBT Wheat  closed at $5.10 3/4, down 8 1/4 cents,

Dec 25 KCBT Wheat  closed at $5.30, down 7 1/2 cents,

Sep 25 MGEX Wheat  closed at $5.77 1/4, down 1/2 cent,

Dec 25 MGEX Wheat  closed at $5.95, down 3/4 cent,