The wheat complex continued their slide this week, the three markets falling lower on the midweek session. Chicago SRW futures were down 9 ½ to 11 ¼ cents on Wednesday. KC HRW contracts posted 4 to 6 ½ cent losses on the day. MPLS spring wheat was 5 ¼ to 8 cents in the red to close the day. A stronger US dollar index continues to plague the market, up another 475 points on the day.
Rains continue to break into the 7 day forecast, with much of the Southern Plains and Eastern half of the country having 1 to 2 inches expected to fall.
Russia’s Rusagrotrans expects to see the country’s 2025/26 wheat crop acreage to drop to the smallest since 2018/19 at 15.4 million hectares (38.1 million acres). The Rosario Grain Exchange estimates the Argentina wheat crop at 18.8 MMT, a 0.7 MMT decrease from the previous estimate.
Dec 24 CBOT Wheat closed at $5.41, down 11 1/4 cents,
Mar 25 CBOT Wheat closed at $5.56 1/2, down 10 1/2 cents,
Dec 24 KCBT Wheat closed at $5.40 3/4, down 5 3/4 cents,
Mar 25 KCBT Wheat closed at $5.54 3/4, down 6 cents,
Dec 24 MGEX Wheat closed at $5.71, down 6 3/4 cents,
Mar 25 MGEX Wheat closed at $5.93 1/4, down 7 1/4 cents,
More news from Barchart- Grains Recover in Q3- What are the Prospects for Q4 and Beyond?
- The Interesting Set-Up In The Physical Wheat Market And Why It Matters
- Will Grains and Oilseeds Find Bottoms?
- Where are Grain and Oilseed Prices Heading in Q3 and Beyond?
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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
