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The wheat market showed gains on July 25, 2023, with Chicago SRW wheat rising by 8 to 11 cents, closing at $5.37 1/4. KC HRW contracts increased by 4 to 5 cents, while MPLS spring wheat was up 7 to 8 cents. A total of 193 contracts were issued against CBT wheat overnight, and 310 deliveries were made against KC wheat.
As of June 29, 2023, 37% of the U.S. winter wheat crop has been harvested, lagging behind the average pace by 5%. Conditions rated as good/excellent decreased to 48%, with the Brugler500 index falling to 329. Colorado saw a notable improvement in ratings, while Nebraska experienced a significant drop of 25 points.
In Ukraine, wheat exports for the 2024/25 season are projected at 15.7 million metric tons, down from 18.5 million metric tons in the previous year, according to the country’s agricultural ministry.
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