Wheat Market Up as Spring Wheat Gains Lead Weekly Progress

The wheat market recorded gains on Wednesday, with spring wheat showing the most strength. Chicago SRW futures increased by 1 to 2 cents at the market’s close. Kansas City HRW contracts saw slight improvements, with only fractional gains. Minneapolis spring wheat futures rose by 5 to 7 cents, driven by weaker conditions.

According to weekly Crop Progress data, 87% of the spring wheat crop is now planted, 7 percentage points above the normal pace, with 60% emerged. Initial ratings show 45% of the crop classified as good/excellent, significantly lower than the 70% anticipated. This rating corresponds to a Brugler500 index score of 326, marking the worst start since 1988. In North Dakota, the Brugler500 index stands at 307, while Minnesota’s is at 385.

The winter wheat crop is 75% headed, surpassing the average of 70%. However, conditions fell by 2% to 50%, below the expected 52%. This rating corresponds to a Brugler500 index score of 332, down 4 points from the prior week. Nebraska reported the most significant drop, with a decrease of 28 points to 240. Oklahoma fell 18 points and Texas dropped 13 points. Meanwhile, improvements were noted in Colorado (+14), South Dakota (+8), North Carolina (+7), and Indiana (+6).

The European Commission forecasts EU wheat production for the 2025/26 season at 126.6 MMT, a slight increase of 0.3 MMT month-over-month. Stock projections also rose by 0.5 MMT to 9.05 MMT.

Jul 25 CBOT Wheat closed at $5.30 1/4, up 1 3/4 cents.

Sep 25 CBOT Wheat closed at $5.45 1/2, up 1 1/4 cents.

Jul 25 KCBT Wheat closed at $5.25 1/4, up 3/4 cent.

Sep 25 KCBT Wheat closed at $5.39 1/2, unchanged.

Jul 25 MGEX Wheat closed at $6.03 1/4, up 7 cents.

Sep 25 MGEX Wheat closed at $6.14 1/2, up 5 1/4 cents.

On the date of publication, Austin Schroeder did not hold any positions in the mentioned securities. All information is for informational purposes only. For further information, please view the Barchart Disclosure Policy here.

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