Wheat Futures Show Mixed Performance Amid Weather Changes

Diverse Trends in Chicago and Other Markets

Wheat futures are showing a mixed trend as midday approaches. Chicago Soft Red Winter (SRW) futures have climbed back into positive territory. Meanwhile, hard wheat contracts are down about 3 cents for Kansas City Hard Red Winter (KC HRW) and 1-2 cents for Minneapolis Spring Wheat (MPLS).

Weather Patterns and International Orders Shape Market Dynamics

The weather forecast indicates drier conditions over the next seven days for much of the Southern Plains and SRW areas, potentially impacting crop yields.

In international trade, Japan has purchased 126,893 metric tons (MT) of wheat from the United States, Canada, and Australia, with 30,793 MT specifically from the U.S. Meanwhile, Thailand decided against their tender for 195,000 MT of wheat on Wednesday.

Current Wheat Futures Prices

March 25 CBOT Wheat is trading at $5.58, up 4 cents.

May 25 CBOT Wheat is at $5.71 3/4, increasing by 4 1/2 cents.

March 25 KCBT Wheat stands at $5.74 1/4, down 1/2 cent.

May 25 KCBT Wheat is priced at $5.84, a decrease of 1 cent.

March 25 MGEX Wheat is at $6.06 3/4, up 1/4 cent.

May 25 MGEX Wheat is trading at $6.17 1/4, up by 1/2 cent.

On the date of publication, Alan Brugler did not hold any positions in the securities mentioned in this article. All information provided is intended for informational purposes only. For further details, please refer to the Barchart Disclosure Policy here.

The views and opinions expressed herein reflect those of the author and do not necessarily represent those of Nasdaq, Inc.