Wheat Market Faces Declines Amid Stronger Dollar

In a challenging trading session on Thursday, the wheat market experienced notable losses. Chicago SRW futures fell between 3 ½ to 5 ¾ cents. Meanwhile, KC HRW contracts registered a decline of 5 to 7 ½ cents. MPLS spring wheat futures also closed lower, with losses ranging from 3 ½ to 6 ¼ cents. A significantly stronger US dollar index has pressured the market downwards.

Additionally, precipitation occurring south of the I-80 corridor and mostly east of the Missouri River, extending into the eastern two-thirds of Kansas, has further capped market potential.

The weekly Export Sales report is set to be released on Friday morning. Traders expect the figures to show between 200,000 and 500,000 metric tons in 2024/25 wheat sales during the Christmas week of December 26. For the 2025/26 period, sales are anticipated to range from 0 to 75,000 metric tons.

Mar 25 CBOT Wheat closed at $5.45 3/4, down 5 3/4 cents.

May 25 CBOT Wheat closed at $5.57 1/2, down 5 cents.

Mar 25 KCBT Wheat closed at $5.51 3/4, down 7 1/2 cents.

May 25 KCBT Wheat closed at $5.60 3/4, down 7 cents.

Mar 25 MGEX Wheat closed at $5.89 1/2, down 6 1/4 cents.

May 25 MGEX Wheat closed at $5.98, down 5 1/2 cents.

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

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