HomeMost PopularWheat Prices Surge as Bulls Gain Momentum on Monday

Wheat Prices Surge as Bulls Gain Momentum on Monday

Daily Market Recaps (no fluff)

always free

Wheat Prices Surge as Dry Weather Looms

Grains See Significant Gains Early in the Week

The wheat market is experiencing a strong rally on Monday, aligning with the broader trends in grain trading. Chicago SRW futures have risen by 10 to 13 cents as of midday. Meanwhile, KC HRW prices are up by 7 to 8 cents, and MPLS spring wheat futures have gained 5 to 7 cents.

Drier Conditions Expected Ahead

Forecasts indicate that the next week will bring drier weather across many of the HRW regions, while SRW areas may only see light precipitation.

Export Data Shows Mixed Results

Recent Export Inspections data revealed a total of 288,895 MT (10.62 mbu) for the week ending on January 9. This represents a decline of 29.94% from the prior week but shows an increase of 19.18% compared to the same week in 2024. Of the total exports, Mexico received 121,333 MT, while Japan and South Korea took 53,938 MT and 30,524 MT, respectively. For the marketing year, total exports have reached 13.01 MMT (478 mbu), marking a 24.97% improvement over the same timeframe last year.

WASDE Report Updates Stock Data

According to the latest US WASDE balance sheet, there were minimal changes, with imports up by 5 mbu and ending stocks increasing by 3 mbu to a total of 798 mbu. Meanwhile, world wheat ending stocks were raised by 0.94 MMT to 258.82 MMT. The Winter Wheat Seedings report indicated that all winter wheat acreage reached 34.115 million acres, which is an increase of 725,000 acres from last year.

Current Prices for Wheat Futures

Mar 25 CBOT Wheat is trading at $5.43 1/4, up 12 1/2 cents.

May 25 CBOT Wheat is at $5.54 3/4, rising by 11 1/4 cents.

Mar 25 KCBT Wheat is at $5.59 1/2, an increase of 7 3/4 cents.

May 25 KCBT Wheat is selling at $5.68 3/4, up 8 cents.

Mar 25 MGEX Wheat is priced at $5.90 1/2, gaining 6 1/4 cents.

May 25 MGEX Wheat is at $5.97 3/4, a rise of 5 1/4 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 for informational purposes only. For more information, please view the Barchart Disclosure Policy
here.

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

Do you want a daily market summary with no fluff?

Simple Straightforward Daily Stock Market Recaps Sent for free,every single trading day: Read Now

Explore More

Simple Straightforward Daily Stock Market Recaps

Get institutional-level analysis to take your trading to the next level, sign up for free and become apart of the community.