Wheat Jul '24 (ZWN24)
Wheat Futures Market News and Commentary
The wheat complex is showing mostly higher trade on Tuesday, pushing off early losses. Chicago SRW contracts are showing 1 to 2 cent gains on the session. KC HRW futures are up 1 to 3 ½ cents across most front months. MPLS spring wheat is showing fractionally mixed trade.
On Monday, Ukraine’s President Zelensky stated there will be a diplomatic track with Russia in regard to the Black Sea attack.
This week’s NASS Crop Progress report showed 62% of the US spring wheat crop harvested by Sunday, 10% ahead of the normal pace and a 21% jump on the week. Conditions were down 1% at 51% gd/ex, with the Brugler500 index back down 3 points to 341. That is the final rating for the crop. Ratings in ND were down 10 points, with the rest of the 5 states either higher or unchanged (MN & SD).
Sep 26 CBOT Wheat is at $6.83 3/4, up 2 cents,
Dec 26 CBOT Wheat is at $7.01, up 1 1/2 cents,
Sep 26 KCBT Wheat is at $7.54, up 3 1/2 cents,
Dec 26 KCBT Wheat is at $7.6... Read more
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