As of Tuesday, September 25, Chicago SRW wheat closed at $5.38, down 3.5 cents, while KC HRW futures traded fractionally higher. MPLS spring wheat experienced a loss of 2 to 3 cents, with September 25 MGEX wheat at $6.01¼, down 2.5 cents. The US winter wheat crop is currently 63% harvested, 1% below the 5-year average, while the Spring wheat crop is 78% headed, 3% ahead of normal.
Recent crop conditions showed a 4% increase in good/excellent ratings, bringing the total to 54%, largely due to improvements in Minnesota, Montana, North Dakota, and South Dakota. In international markets, Russian wheat production is estimated at 84 million metric tons, a reduction of 0.5 million metric tons from previous forecasts, with exports for 2025/26 expected at 42 million metric tons. Algeria has reportedly purchased approximately 1 million metric tons of wheat today.
