Wheat Market Shows Mixed Results Amid Weather Changes

The wheat market displayed notable activity on Wednesday, with winter wheat exchanges experiencing gains. Chicago SRW futures rose by 7 to 8 cents by the close of trading. In comparison, Kansas City HRW futures saw an increase of 10 to 12 cents. On the other hand, Minneapolis spring wheat futures faced a downturn, with contracts falling by 3 to 4 cents.

Looking ahead, rains are anticipated in parts of the SRW region over the next week. However, much of the HRW territory, including southwest Nebraska, western Kansas, and Texas panhandle, is expected to miss out on this rainfall.

Tuesday marked the commencement of the annual Hard Red Wheat Tour in Kansas, reporting a Day 1 yield of 50.5 bushels per acre (bpa). This figure is above last year’s Day 1 average of 49.9 bpa and represents a four-year high. Results from Day 2 will be shared later today.

In the upcoming Export Sales report, anticipated Thursday morning, old crop wheat bookings are predicted to range from net reductions of 200,000 metric tons (MT) to net sales of up to 100,000 MT. For the 2025/26 marketing year, business is expected between 350,000 MT and 600,000 MT.

Additionally, Algeria has recently purchased an estimated 660,000 MT of wheat in a tender on Wednesday.

Jul 25 CBOT Wheat closed at $5.24 3/4, marking an increase of 7 1/2 cents.

Sep 25 CBOT Wheat closed at $5.39, rising by 7 1/4 cents.

Jul 25 KCBT Wheat closed at $5.23, up 11 1/4 cents.

Sep 25 KCBT Wheat closed at $5.37, gaining 10 3/4 cents.

Jul 25 MGEX Wheat closed at $5.77, declining by 3 3/4 cents.

Sep 25 MGEX Wheat closed at $5.90 3/4, down 3 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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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