Wheat is trading with continued weakness on Tuesday AM trade. The three wheat exchanges closed weaker on Monday, as contracts were pushed lower to start the week. Chicago SRW futures posted 10 to 11 cent losses. KC HRW futures were 12 to 13 cents lower to kick off the week. MPLS spring wheat saw weakness of 10 to 11 cents.
With the national Crop Progress report starting on a weekly basis in April, we still have a few individual state crop reports. Kansas will be out on a weekly basis starting next week, with Texas ratings at 37% gd/ex, up 4% from last week (Brugler500 rating up 4 to 304). Oklahoma ratings were down 6% from the end of January at 34%, as the Brugler500 index was down 10 to 307.
Export Inspections data showed a total of 375,546 MT (13.8 mbu) of wheat shipped in the week that concluded on February 20. That was 50.14% above the week prior but still 22.09% below the same week in 2024. Mexico was the top destination of 105,451 MT, with 68,284 MT to South Korea. Shipments so far in the marketing year have totaled 15.225 MMT (559.4 mbu), a 20.71% increase from the same week last year.Â
Mar 25 CBOT Wheat  closed at $5.79, down 11 cents, currently down 6 1/2 cents
May 25 CBOT Wheat  closed at $5.93 1/2, down 10 1/2 cents, currently down 6 1/4 cents
Mar 25 KCBT Wheat  closed at $5.96 1/2, down 12 3/4 cents, currently down 3 1/4 cents
May 25 KCBT Wheat  closed at $6.09 1/2, down 12 1/4 cents, currently down 3 1/2 cents
Mar 25 MGEX Wheat  closed at $6.21 1/2, down 10 1/4 cents, currently down 2 1/2 cents
May 25 MGEX Wheat  closed at $6.35 3/4, down 10 3/4 cents, currently down 1 3/4 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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