The wheat market closed out the Monday session with bulls gaining ground. Chicago SRW futures saw 4 cent gains in the nearbys.  Kansas City HRW contracts were 6 to 7 cents in the green. Minneapolis spring wheat futures were 11 to 13 cents higher.

Export Inspections data showed a total of 423,785 MT (15.57 mbu) of wheat shipped during the week of May 15. That was an increase of 4.59% from the previous week and 85.06% above the same week last year. Japan was the largest destination of 123,562 MT, with 72,551 MT headed to Mexico. Marketing year exports have totaled 20.702 MMT (760.7 mbu) since June 1, which is 15.69% above the same period last year. 

Weekly Crop Progress data indicated the spring wheat crop at 82% planted, well ahead of the 65% average pace. Emergence was tallied at 45% planted, vs. the normal 34% pace. Winter wheat shown at 64% headed, 6 percentage points faster than average. Conditions were shown as slipping 2% to 52% gd/ex, with the Brugler500 index down 2 to 336.

South Korean mills purchased 50,000 MT of US wheat overnight. Saudi Arabia purchased a total of 621,000 MT of wheat in a tender.

Jul 25 CBOT Wheat  closed at $5.29, up 4 cents,

Sep 25 CBOT Wheat  closed at $5.43, up 4 cents,

Jul 25 KCBT Wheat  closed at $5.22 3/4, up 6 1/4 cents,

Sep 25 KCBT Wheat  closed at $5.36 1/2, up 6 cents,

Jul 25 MGEX Wheat  closed at $5.85 1/2, up 12 1/4 cents,

Sep 25 MGEX Wheat  closed at $5.98 3/4, up 11 1/2 cents,