The wheat market showed mixed results on September 26, 2023, with Chicago SRW contracts falling by 1 to 10¼ cents, while MPLS spring wheat gained up to 1¼ cents. KC HRW futures were the weakest, closing down 5¼ to 15 cents. Chicago Sep 26 wheat settled at $6.64½, down 10¼ cents, while Dec 26 wheat closed at $6.81¼, down 8 cents.
This week’s NASS Crop Progress report indicated a 1% increase in spring wheat conditions, now at 52% good/excellent, with the Brugler500 index rising 5 points to 344. Notably, conditions in Montana and Washington decreased by 3 and 5 points, respectively, while Idaho, North Dakota, and Minnesota saw improvements of 8, 5, and 4 points.
Additionally, EU soft wheat exports since July 1 reached 1.48 million metric tonnes (MMT) as of August 16, lagging behind last year’s total of 2.9 MMT for the same period, according to the European Commission.
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