Wheat markets are down on Monday, with Chicago SRW wheat trading 5 to 7 cents lower. KC HRW contracts are falling 5 to 6 cents, with MPLS spring wheat down 10 to 11 cents. Export Inspections report shows a total of 438,533 wheat shipped in the week of 7/10, with Mexico as the top destination.

President Trump announced a 30% tariff on the EU and Mexico, starting on August 1. He also threatened Russia with secondary tariffs if there is no deal to end the Russian/Ukraine war in 50 days. Spec funds continue to trim their net short position in Chicago and Kansas City wheat futures.

A Taiwan flour mill has issued a tender to buy 89,650 MT of US wheat. CBOT Wheat prices for July and September are down, while KCBT Wheat for July is up slightly. MGEX Wheat prices for July are unchanged, while September prices are down. No positions in securities mentioned by Austin Schroeder on the publication date.

Read more at Yahoo Finance: Wheat Pressured on Monday, Led by Spring Wheat