Wheat Trying to Pull Out Some Gains on Wednesday Morning
Wheat is higher across all three exchanges early on Wednesday. The complex posted weakness on Tuesday, with contracts down across the three markets. Chicago SRW futures closed with losses of 5 to 6 cents on the Tuesday session. Kansas City HRW posted losses of 1 to 3 cents at the final bell. MPLS spring wheat was down 3 to 4 cents in the nearby contracts at Tuesday’s close.
The weekly Crop Progress report from NASS showed conditions of the winter wheat crop down 1% to 47% good/excellent, with the Brugler500 index rising 1 point to 329 on a 2% shift out of the poor/very poor categories. By state, the HRW states took much of the weaker conditions, with NE down 30 points, CO losing 12 and KS dropping 9 points.
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 closed at $5.42, down 5 1/2 cents, currently up 6 cents
Jul 25 CBOT Wheat closed at $5.56, down 5 3/4 cents, currently up 6 cents
May 25 KCBT Wheat closed at $5.53, down 2 1/4 cents, currently up 7 cents
Jul 25 KCBT Wheat closed at $5.68 1/2, down 1 3/4 cents, currently up 4 3/4 cents
May 25 MGEX Wheat closed at $6.01 1/4, down 3 1/2 cents, currently up 5 3/4 cents
Jul 25 MGEX Wheat closed at $6.15 1/2, down 3 1/2 cents, currently up 5 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.