Wheat Futures Experience Decline Amid Strong Dollar and Weather Forecasts

Market Update: Wheat Prices Drop on Recent Trading Day

This week, the wheat complex saw a continued decrease in prices, with all three major markets falling on Wednesday. Chicago SRW futures dropped by 9 ½ to 11 ¼ cents. Meanwhile, KC HRW contracts recorded losses of 4 to 6 ½ cents. MPLS spring wheat also fell, closing the day down by 5 ¼ to 8 cents. A stronger U.S. dollar, which rose by 475 points on the same day, is contributing to the market’s struggles.

Weather Patterns Bring Moisture to Key Growing Regions

The seven-day weather forecast indicates incoming rains, with predictions of 1 to 2 inches expected across much of the Southern Plains and the eastern half of the United States.

Global Supply Outlook: Russia and Argentina Report Changes

In global news, Russia’s Rusagrotrans has projected that the country’s wheat crop acreage for 2025/26 will decline to its lowest level since 2018/19, estimating a total of 15.4 million hectares (38.1 million acres). In Argentina, the Rosario Grain Exchange revised its wheat crop estimate down to 18.8 MMT, which is a decrease of 0.7 MMT from earlier estimates.

Current Wheat Futures Prices

Dec 24 CBOT Wheat closed at $5.41, down 11 1/4 cents.

Mar 25 CBOT Wheat closed at $5.56 1/2, down 10 1/2 cents.

Dec 24 KCBT Wheat closed at $5.40 3/4, down 5 3/4 cents.

Mar 25 KCBT Wheat closed at $5.54 3/4, down 6 cents.

Dec 24 MGEX Wheat closed at $5.71, down 6 3/4 cents.

Mar 25 MGEX Wheat closed at $5.93 1/4, down 7 1/4 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 those of the author and do not necessarily reflect those of Nasdaq, Inc.