Wheat is trading with slight gains on Wednesday morning. They faced pressure across the three markets on the Tuesday session. Chicago SRW futures were 5 to 6 1/2 cents lower in the across most contracts at the close. KC HRW contracts were down 4 ½ to 6 ¾ cents on the day. MPLS spring wheat futures settled the day with contracts down 1 to 5 cents.
Japan has issued a weekly tender for 77,220 MT of US and Australian wheat, with 55,420 MT US specific.
SovEcon estimates the 2025 Russian wheat crop at 78.7 MMT which was a 3 MMT cut from the previous release. The EU estimates the 2024/25 soft wheat exports at 10.54 MMT from July 1 to December 15, a reduction from the 15.17 MMT year prior for the same time. The French Farm Ministry estimated the country’s soft winter wheat area at 4.51 million hectares (11.15 million acres), up 8.7% from last year.
Mar 25 CBOT Wheat closed at $5.45, down 5 cents, currently up 1 3/4 cents
May 25 CBOT Wheat closed at $5.54 1/2, down 6 1/2 cents, currently up 1 1/2 cents
Mar 25 KCBT Wheat closed at $5.52 1/2, down 6 3/4 cents, currently up 1 1/4 cents
May 25 KCBT Wheat closed at $5.60 1/4, down 6 1/2 cents, currently up 1 1/2 cents
Mar 25 MGEX Wheat closed at $5.95, down 5 cents, currently up 2 3/4 cents
May 25 MGEX Wheat closed at $6.02 1/2, down 4 3/4 cents, currently up 3 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.
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