Wheat futures backed off in the winter wheat contracts to start off the week. Chicago contracts were down 4 ½ to 13 ¾ cents on the session. Kansas City was down 1 ¼ to 3 ¾ cents across most contracts. MPLS was holding up, with contracts 2 ¾ cents to 7 cents higher, as May was 18 cents higher ahead of First Notice day. Russian growing regions are projected to see some precip over the coming week, which put pressure on Chicago.

This afternoon’s Crop Progress report showed that 30% of the US winter wheat crop headed as of 4/28. That was 9% ahead of the normal pace. Condition ratings were down 1% to 49% gd/ex, with the Brugler500 index down 2 points to 334. The spring wheat crop was 34% planted, well above the 19% average pace. The crop was also 5%  emerged, with the average pace at 5%.

Weekly Export Inspections data showed 481,183 MT of wheat shipped during the week that ended last Thursday, April 25. That was a jump of 6.85% on the week, with a 31.64% increase on the same week last year. Shipments were pretty spread out, as China was the lead destination of 69,950 MT. Another 45,832 MT was headed to Taiwan, with 44,888 MT headed to Chile. Year to date export shipments have totaled 16.921 MMT (621 mbu), which is still down 7.32% below a year ago. 

May 24 CBOT Wheat  closed at $5.90 1/4, down 13 cents,

Jul 24 CBOT Wheat  closed at $6.08 1/2, down 13 3/4 cents,

May 24 KCBT Wheat  closed at $6.43 3/4, down 2 1/2 cents,

Jul 24 KCBT Wheat  closed at $6.50 1/2, down 3 3/4 cents,

Jul 24 MGEX Wheat  closed at $7.07 3/4, up 4 1/4 cents,