The wheat market is back to mixed trade on Tuesday. Chicago SRW futures are down 2 to 3 cents. Kansas City HRW contracts are up 3 cents in the nearbys. MPLS spring wheat is trading with fractional to 2 cent gains. CME is planning to launch their spring wheat futures and options contracts on April 14 pending regulatory review.
Individual state Crop Progress reports showed KS winter wheat rated 48% gd/ex, down 2%, with a Brugler500 index slipping 6 points to 331. Ratings in TX were steady at 28% gd/ex and 1 point higher on the Brugler500 at 283. The next week continues to look drier for much of the Southern Plains as the begins to exit dormancy.
Japan is tendering for 122,456 MT of wheat from the US, Canada, and Australia, with 70,676 MT US specific. EU soft wheat export have totaled 14.92 MMT as of March 16 since the first of July, which is well behind the 22.92 MMT in the same period last year.
May 25 CBOT Wheat is at $5.66, down 2 1/2 cents,
Jul 25 CBOT Wheat is at $5.83, down 2 cents,
May 25 KCBT Wheat is at $6.08 1/2, up 3 cents,
Jul 25 KCBT Wheat is at $6.20 3/4, up 3 cents,
May 25 MGEX Wheat is at $6.15 1/2, up 1/2 cent,
Jul 25 MGEX Wheat is at $6.32 1/4, up 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.
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