Wheat trading experienced mixed results on Tuesday morning, with Chicago SRW futures gaining 3 ¼ to 6 ½ cents, while MPLS spring wheat saw losses of 2 ½ to 5 cents. Open interest rose by 7,626 contracts. Notably, 39 deliveries for May KC wheat were recorded overnight.
According to the latest Crop Progress data, the U.S. spring wheat planting is at 32%, lagging 3 percentage points behind the five-year average of 35%, with 10% emergence. The winter wheat crop is reported to be 49% headed, significantly ahead of the typical pace by 17 percentage points. Condition ratings improved slightly, with 31% rated good to excellent, though there was also an increase in poor ratings.
In soybean export activities, the USDA reported shipments of 434,204 metric tons (15.95 million bushels) for the week ending April 30, up 17.43% from the previous week and 5.44% year-on-year. Key destinations included Mexico (146,499 MT), Indonesia (75,440 MT), and Thailand (58,735 MT).
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.
