Wheat prices have declined by 3 to 6 cents in the front months as of March 26, 2023, with Chicago SRW futures closing at $5.19, down 2.75 cents. Kansas City HRW futures are also down, with March settling at $5.33. The overall week saw Chicago futures gain, but open interest dropped by 3,525 contracts, particularly in March.
The weather forecast predicts minimal precipitation across the Plains over the next week, with light totals in areas relevant to SRW. The ongoing discussion regarding peace talks between President Trump and Ukrainian President Zelensky indicated progress towards an agreement to end the war with Russia, although unresolved disputes remain.
