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cmdty Wheat Prices and Indexes

Tue, Mar 19th, 2019

wheat Prices by State

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cmdty Wheat Price Index Family

The cmdty Wheat Price Index family is a series of volume weighted indexes and price assessments that represent fair value pricing for physical Wheat across the United States. The indexes are calculated on a continuous basis and use a sophisticated – but transparent - weighting process to ensure prices are objective and reflective of underlying market economics.

Calculated at the County, Crop Reporting District, State, Regional, and National level – from prices contributed by over 4,000 grain buying locations – there are over 500 different front-month indexes. With forward curves going out twelve months for each index area there are over 6,000 objective prices for Wheat calculated each day. Historical information is available through to the start of 2014.

Major growing zones are divided among the following regions:

  • Eastern – Illinois, Indiana, Kentucky, Michigan, Ohio, Wisconsin
  • Western – Iowa, Kansas, Minnesota, Nebraska, N. Dakota, S. Dakota
  • Delta – Arkansas, Louisiana, Mississippi, Missouri, Tennessee

The indexes are powered by best-in-class grain prices from the cmdty by Barchart product line. Additional prices, including basis values and forward curve information, are available exclusively to subscribers of cmdtyView® - the leading platform for commodity trading – or other data products available through cmdty.

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cmdty Wheat Price Indexes

cmdty Insider - Wheat Futures Market News and Commentary


Wheat futures were 2 to 6 1/2 cents lower in most winter wheat contracts on Monday, as export data disappointed the bulls amid the recent price breakdown. MPLS was up 2 to 6 cents on planting weather concerns. This morning’s USDA Export Inspections report indicated that 353,727 MT of all wheat was shipped in the week that ended on March 14. That was a 42.2% drop from the week previous and 20.5% below the same week in 2018. Inspections YTD are lagging a year ago by 6.17%, at 17.976 MMT (660.5 mbu). Individual State Crop Progress reports show KS winter wheat ratings down 2% to 49% gd/ex, with OK and TX both improved. Ethiopia is seeking 400,000 MT in a tender that expires on April 19.May 19 CBOT Wheat closed at $4.56 3/4, down 5 1/2 cents,May 19 KCBT Wheat closed at $4.36 1/2, down 6 1/2 cents,May 19 MGEX Wheat closed at $5.60 3/4, up 6 cents--provided by Brugler Marketing & Management
Spring Wheat Basis: 'S'-Now Big Deal

If you’re keeping up to date on my basis postings, you’ll recall my most recent piece on soybeans (“Soybean Basis: The Weight of Futures”) talked about the often-inverse relationship between futures and basis. In other words, if the futures market posts a strong rally, grain merchandisers will often soften basis a bit on the idea that futures will do a good enough job of sourcing enough supplies to meet demand. Last week saw national average soybean basis firm, slightly, despite solid gains in futures, until Friday.Spring wheat was different, though. Here we saw the national average basis (cmdty National Hard Red Spring Wheat Index minus futures) actually weaken as the futures market firmed late in the week. To be exact, the May Minneapolis futures contract gained 5 1/2 cents, paltry indeed compared to the rest of the grain and oilseed complex, while national average basis weakened 1 1/4 cents from the previous to finish at 53 1/4 cents under the May. When one considers much of the U.S. Northern Plains remains buried by feet of snow, in mid-March, it seems counter-intuitive that spring wheat basis should be weakening.Until you factor in where bushels are being held. Most of the wheat in the U.S. winds up in commercial storage, where ownership is more easily transferred from seller to buyer. Therefore, if one doesn’t have to wait for the snow to melt before pulling grain out of an on-farm bin, it creates a situation where winter (into spring) weather doesn’t create a similar search for supplies like what has been seen in corn and soybeans. Darin NewsomPresidentDarin Newsom Analysis Inc.
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