On Tuesday, wheat futures showed upward trends across major markets. Chicago SRW futures gained 4 to 5 cents, while KC HRW futures increased by 6 to 7 cents. MPLS spring wheat saw the most significant rise, up 7 to 9 cents at midday.
As of the latest Crop Progress data, U.S. spring wheat is 12% planted, consistent with the five-year average, with 2% emerged. The winter wheat crop is reported at 20% headed, 8 percentage points ahead of normal, although condition ratings fell by 4 percentage points to 30% good/excellent. The Brugler500 index has decreased by 5 points to 290, marking the lowest condition rating for main HRW states since 2023.
Key futures prices include May 26 CBOT Wheat at $6.02 (up 5 cents), Jul 26 KCBT Wheat at $6.54 1/4 (up 6 3/4 cents), and May 26 MIAX Wheat at $6.63 (up 7 3/4 cents).
