Wheat Prices Surge Midday with Gains Across All Markets

Chicago, Kansas City, and Minneapolis Wheat Contracts See Notable Increases

Wheat prices are experiencing a midday rally on Monday, with contracts showing gains in all three major markets. Chicago SRW futures have increased by 11 to 12 cents. In the Kansas City market, HRW contracts are seeing midday rises between 13 to 14 cents. Similarly, MPLS spring wheat futures are up by 13 to 14 cents today.

According to the Export Inspections data, total wheat shipments reached 412,342 MT (15.15 million bushels) during the week of January 2. This figure marks a 21.6% increase from the previous week but is down 17.85% compared to the same week last year. Out of the total, 147,060 MT was sent to Mexico. For the marketing year, shipments have accumulated to 12.718 MMT (467.29 million bushels), which is still 25.1% lower compared to the same period last year.

Mar 25 CBOT Wheat is currently priced at $5.41 1/4, an increase of 12 cents.

May 25 CBOT Wheat is at $5.52 3/4, up 11 3/4 cents.

Mar 25 KCBT Wheat is priced at $5.52 3/4, rising by 13 3/4 cents.

May 25 KCBT Wheat stands at $5.61 1/4, gaining 14 cents.

Mar 25 MGEX Wheat is currently at $5.91 1/2, an increase of 13 3/4 cents.

May 25 MGEX Wheat is at $5.99 1/2, up 13 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 is solely for informational purposes. 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.