The wheat market showed mixed trading results on Wednesday, with winter wheat contracts declining while spring wheat saw gains. Chicago SRW futures closed at $5.07¾, down 2½ cents, while KC HRW futures fell by 2 to 4 cents, closing at $5.19¾, down 3¼ cents. Conversely, MPLS spring wheat reported an increase, with March 26 MIAX wheat up 1¾ cents, closing at $5.64¾.
Delays in USDA Export Sales data are expected, with the release now scheduled for Friday morning due to the observed Monday holiday. A significant precipitation event is forecast for the upcoming week, potentially adding moisture to winter wheat regions from the Southern Plains to the East Coast, according to NOAA’s 7-day QPF.
