Wheat Posting Weakness at Midday
The wheat complex is trading with contracts holding lower at midday. Chicago SRW futures are down 5 to 6 cents so far at midday. Kansas City HRW are posting 4 to 5 cent losses at midday. MPLS spring wheat is slipping 3 to 5 cents so far on Tuesday.
The weekly Crop Progress report from NASS showed the US spring wheat crop at 7% planted, matching the 5-year average pace. The winter wheat crop was pegged at 8% planted, in line with the average pace. Conditions of the winter wheat crop were down 1% to 47% good/excellent, with the Brugler500 index rising 1 point to 329 on a 2% shift out of the poor/verry poor categories.
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The French farm ministry estimated the country’s soft wheat crop at 4.61 hectares (11.44 million acres), a 10% increase from last year. Argentina’s wheat crop is estimated at 20.5 MMT for 2025/26 according to the Buenos Aires Grains Exchange, which would be up from 18.6 MMT last year.
May 25 CBOT Wheat is at $5.42, down 5 1/2 cents,
Jul 25 CBOT Wheat is at $5.55 3/4, down 6 cents,
May 25 KCBT Wheat is at $5.51, down 4 1/4 cents,
Jul 25 KCBT Wheat is at $5.65 3/4, down 4 1/2 cents,
May 25 MGEX Wheat is at $6.00 1/2, down 4 1/4 cents,
Jul 25 MGEX Wheat is at $6.15 1/2, down 3 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
