Wheat Prices Take a Dive Amid Weather Concerns

Market Overview Shows Significant Losses

Wheat prices are trending downward as midday reports show losses across various futures. Chicago SRW futures have dropped by 12 to 15 cents, while KC HRW futures are experiencing similar declines of 14 to 15 cents. Additionally, MPLS spring wheat is down by 8 to 9 cents.

Weather Patterns Impacting Crop Conditions

Recent snowfall in parts of the central Plains on Tuesday has eased some fears about sub-zero temperatures affecting crops this week.

Texas Crop Progress Report Reveals Decline in Quality

On Monday, Texas issued its state Crop Progress report, revealing that only 33% of the wheat crop is rated in good to excellent condition, down 3% from the previous week. The Brugler500 index rating has also decreased by 9 points, now standing at 300.

Current Wheat Futures Prices

As of now, the prices for various wheat futures are as follows:

• Mar 25 CBOT Wheat: $5.90 1/4, down 14 1/2 cents
• May 25 CBOT Wheat: $6.05, down 12 3/4 cents
• Mar 25 KCBT Wheat: $6.13, down 14 1/4 cents
• May 25 KCBT Wheat: $6.25 1/4, down 14 cents
• Mar 25 MGEX Wheat: $6.32 1/4, down 8 3/4 cents
• May 25 MGEX Wheat: $6.46 3/4, down 9 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 is solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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