Wheat Prices Decline Amidst Market Pressures

Global and Domestic Factors Influence Wheat Markets

Wheat prices experienced pressure in key markets during Tuesday’s trading session. Chicago SRW futures closed lower, with most contracts seeing a drop of 5 to 6 ½ cents. Similarly, KC HRW contracts were down by 4 ½ to 6 ¾ cents. Meanwhile, MPLS spring wheat futures settled with a decline ranging from 1 to 5 cents.

In a noteworthy development, Japan has announced a weekly tender for 77,220 metric tons of wheat from the US and Australia, specifying that 55,420 metric tons will come from the US.

SovEcon has revised its forecast for the 2025 Russian wheat crop, now estimating it at 78.7 million metric tons, which is a reduction of 3 million metric tons from earlier predictions. Meanwhile, the EU anticipates soft wheat exports for the 2024/25 season to be 10.54 million metric tons from July 1 to December 15, a decrease from last year’s exports of 15.17 million metric tons during the same period. Furthermore, the French Farm Ministry has projected the country’s soft winter wheat area to be 4.51 million hectares (approximately 11.15 million acres), marking an increase of 8.7% compared to last year.

Mar 25 CBOT Wheat closed at $5.45, down 5 cents.

May 25 CBOT Wheat closed at $5.54 1/2, down 6 1/2 cents.

Mar 25 KCBT Wheat closed at $5.52 1/2, down 6 3/4 cents.

May 25 KCBT Wheat closed at $5.60 1/4, down 6 1/2 cents.

Mar 25 MGEX Wheat closed at $5.95, down 5 cents.

May 25 MGEX Wheat closed at $6.02 1/2, down 4 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 are 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.