Wheat Prices Rise Amid Mixed Export Sales Data

Wheat is trading higher on Friday, with gains across all major exchanges. Chicago SRW futures are showing slight increases, while Kansas City HRW contracts are up by 2 to 3 cents. Minneapolis spring wheat futures have risen by 9 to 10 cents.

Morning export sales data revealed a net reduction of 128,797 MT for the 2024/25 wheat crop, within the expected range of 200,000 MT to 100,000 MT. New crop sales reached 711,368 MT, falling on the higher side of predictions between 300,000 MT and 800,000 MT, though it marks a three-week low. Notably, unknown destinations were the largest buyer at 213,000 MT, followed by Mexico with 140,000 MT and South Korea at 115,000 MT.

FranceAgriMer estimates the French soft wheat crop’s quality at 70% good/excellent, a slight decline from the previous week’s 71%.

Jul 25 CBOT Wheat is priced at $5.34 3/4, up 3/4 cent.

Sep 25 CBOT Wheat is at $5.49 1/4, up 1/2 cent.

Jul 25 KCBT Wheat stands at $5.34, up 2 1/4 cents.

Sep 25 KCBT Wheat is priced at $5.48, also up 2 1/4 cents.

Jul 25 MGEX Wheat is trading at $6.25 3/4, up 10 1/4 cents.

Sep 25 MGEX Wheat is priced at $6.37 1/4, up 9 1/4 cents.

On the date of publication, Austin Schroeder did not have positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. 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.