Wheat Prices Decline Midday Amid Stable Crop Progress Reports

The wheat complex is trading lower as contracts drop at midday. Chicago SRW futures have decreased by 5 to 6 cents. Meanwhile, Kansas City HRW futures are down by 4 to 5 cents, and MPLS spring wheat is slipping by 3 to 5 cents on this Tuesday.

US Crop Progress Report Shows Steady Planting

The latest weekly Crop Progress report from NASS indicates that the U.S. spring wheat crop is currently 7% planted, matching the 5-year average. The winter wheat crop stands at 8% planted, consistent with the average pace. However, the condition of the winter wheat crop has decreased by 1%, now at 47% rated as good/excellent. The Brugler500 index has slightly risen by 1 point to 329, reflecting a 2% shift from poor to very poor categories.

International Wheat Crop Estimates

In Europe, the French farm ministry estimates the soft wheat crop at 4.61 million hectares (11.44 million acres), marking a 10% increase compared to last year. In Argentina, the Buenos Aires Grains Exchange projects a wheat crop size of 20.5 MMT for 2025/26, up from last year’s 18.6 MMT.

Current Wheat Futures Prices

May 25 CBOT Wheat is priced at $5.42, down 5 1/2 cents.

Jul 25 CBOT Wheat is at $5.55 3/4, a decrease of 6 cents.

May 25 KCBT Wheat is trading at $5.51, down 4 1/4 cents.

Jul 25 KCBT Wheat is at $5.65 3/4, falling by 4 1/2 cents.

May 25 MGEX Wheat is priced at $6.00 1/2, down 4 1/4 cents.

Jul 25 MGEX Wheat is at $6.15 1/2, with a decline of 3 1/2 cents.

On the date of publication, Austin Schroeder did not have either directly or indirectly any positions in the securities mentioned in this article. All information and data herein is for informational purposes only. For more information, please view the Barchart Disclosure Policy here.

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