Hard Red Wheat Mar '25 (KEH25)
Hard Red Wheat Futures Market News and Commentary
The wheat complex was pressure across the three markets on Tuesday, with spring wheat leading the bears. Chicago SRW contracts were 8 1/4 to 10 3/4 cents in the red at the close. KC HRW futures posted 13 to 15 1/4 cent losses across the board. MPLS spring wheat was 14 to 24 3/4 cents to lead the bears.
Much if the spring wheat area from MN to ID is expected to receive 1-2 inches of rainfall in the next week, with heavier totals in Canada.
NASS Crop Progress data showed 40% of the US winter wheat crop harvested by Sunday, 16% ahead of normal. Conditions were down 1% to 26% gd/ex, with the Brugler500 index 3 points lower to 264. An average of the major HRW states show a 2 point drop to 211 points, with SRW up 2 points at 359, and the white wheat states averaging 352, down 15 points on the week.Â
The spring wheat crop was 16% headed, matching the 5-year average pace. Spring wheat conditions were 54% gd/ex, down 1%, with the Brugler500 slipping 1 point to 351. Deterior... Read more
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I am Stephen Davis, senior market strategist at Walsh Trading, Inc., Chicago, Illinois. You can reach me at 312-878-2391. Due to very favorable growing...
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