Wheat prices exhibited mixed movements on Tuesday, with Kansas City Hard Red Winter (HRW) contracts seeing minor gains while Chicago Soft Red Winter (SRW) futures fell by 3 to 4 cents. The May 25 CBOT Wheat closed at $5.65, down 3.5 cents, while July 25 KCBT Wheat finished at $6.19, up 1.25 cents. Kansas’s winter wheat crop is rated at 48% good to excellent, down 2% from the previous week, while Texas remains flat at 28%.
Japan has issued a tender for 122,456 metric tons of wheat from the U.S., Canada, and Australia, targeting 70,676 metric tons specifically from the U.S. In contrast, EU soft wheat exports have totaled 14.92 million metric tons since July 1, lagging behind last year’s figure of 22.92 million metric tons for the same period. The upcoming CME launch of spring wheat futures and options, scheduled for April 14, is pending regulatory review.
