The wheat complex faced significant declines on Tuesday, with Chicago SRW contracts dropping 11 to 14 cents, KC HRW futures falling 9 ½ to 11 ¼ cents, and MPLS spring wheat sliding 5 ½ to 10 ¾ cents. The September 26 closing figures reported CBOT Wheat at $6.38 ½ (down 12 ½ cents) and KCBT Wheat at $7.07 (down 10 ¼ cents).
According to the latest NASS Crop Progress data, spring wheat conditions improved by 2%, now at 55% rated good/excellent, with the Brugler500 index rising 6 points to 348. Meanwhile, export data revealed a three-year low of 1.473 million metric tons (MMT) in June, marking an 8.49% decline from May. Notably, a South Korean mill purchased 50,000 MT of U.S. wheat in a recent tender.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
