Wheat Markets Show Mixed Performance Amid USDA Report Anticipation

Wheat is experiencing mixed trading on Wednesday. Chicago SRW futures are showing midday losses ranging from 1 to 2 cents, while Kansas City HRW contracts have risen by 3 to 5 cents. Meanwhile, MPLS spring wheat is down 1 to 2 cents at midday.

The USDA’s Export Sales report is expected to reveal net reductions of 100,000 MT to net sales of 300,000 MT for the 2024/25 wheat market for the week ending March 27. Additionally, new crop sales are forecasted to be between 0 and 200,000 MT.

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Notably, US markets are not alone in facing weaker price action, as French milling wheat futures are also hovering near fresh multi-month lows.

Current Futures Prices

May 25 CBOT Wheat: $5.39 1/4, down 1 1/4 cents

Jul 25 CBOT Wheat: $5.52 3/4, down 1 cent

May 25 KCBT Wheat: $5.69 1/2, up 4 1/4 cents

Jul 25 KCBT Wheat: $5.80, up 3 1/4 cents

May 25 MGEX Wheat: $5.93, down 1 cent

Jul 25 MGEX Wheat: $6.08 3/4, down 1 1/4 cents

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

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