Wheat prices showed varied trends on midweek trade, with winter wheat contracts experiencing losses while spring wheat posted stable to higher prices. On Tuesday, Chicago SRW futures increased by 7.5 to 10 cents, and open interest rose by 2,101 contracts. KC HRW futures climbed 18.5 to 20.25 cents, leading with an increase of 7,393 contracts, indicating net new buying. MPLS spring wheat rose by 11 to 113.5 cents.
Over the next week, dry conditions are anticipated from western Kansas to the Texas panhandle, according to NOAA forecasts. Additionally, French soft wheat exports outside the EU are estimated at 7.1 million metric tons (MMT), with intra-EU shipments projected at 7.7 MMT—a rise of 0.13 MMT from the previous week. French ending stocks are anticipated to decline to 3.31 MMT, down by 0.8 MMT.
As of May 26, CBOT wheat closed at $5.92 (up 9.75 cents), KCBT wheat at $6.22.75 (up 19.5 cents), and MIAX wheat at $6.38 (up 13.5 cents).
