The wheat complex saw significant gains on Monday, with Chicago SRW futures rising by 6 to 11 1/4 cents, KC HRW futures increasing by 5 to 12 1/4 cents, and MPLS spring wheat gaining 10 to 13 cents. The closing prices were noted as $5.82 1/4 for May CBOT Wheat, $6.03 1/4 for May KCBT Wheat, and $6.25 1/2 for May MIAX Wheat.
As of Sunday, 11% of winter wheat was reported headed, surpassing the 5-year average of 7%. However, the condition ratings decreased to 34% good/excellent. Spring wheat planting fell behind, with only 6% completed compared to the 7% average. Additionally, the USDA’s FGIS reported wheat export shipments at 320,797 MT for the week ending April 9, down 6.44% from the prior week and 47.62% from last year, with Mexico as the leading destination.
