The wheat market is continuing to fall on Monday, with contracts down double digits at midday.  Chicago futures are down 14 to 17 cents.  Kansas City contracts are losing 10 to 13 cents on Monday. MPLS spring wheat futures are 14 to 16 cents lower at midday.

Export Inspection data showed 533,828 MT (19.6 mbu) of wheat shipped during the week that ended on July 11. That was early double the same week last year and 55.47% above the previous week. Mexico was the lead buyer of 124,648 MT, with Taiwan buying 97,902 MT. Accumulated shipments in the first month and a half of the marketing year are now 2.27 MMT (83.27 mbu). 

The weekly CFTC Commitment of Traders report showed CBT wheat spec traders net short 69,137 contracts as of July 9, a 4,837 contract reduction on the week. In KC wheat, they were trimming 2,292 contracts to 40,811 contracts by July 9. 

IKAR, a Russian consultancy firm, raised their wheat production number for Russia by 1.2 MMT to 83.2 MMT. 

Sep 24 CBOT Wheat  is at $5.34 3/4, down 16 cents,

Dec 24 CBOT Wheat  is at $5.59, down 16 3/4 cents,

Sep 24 KCBT Wheat  is at $5.57 1/4, down 10 1/2 cents,

Dec 24 KCBT Wheat  is at $5.74 1/2, down 12 cents,

Sep 24 MGEX Wheat  is at $5.82, down 15 1/2 cents,

Dec 24 MGEX Wheat  is at $6.03 1/4, down 14 cents,