Wheat Market Sees Gains as Prices Climb Ahead of Stock Estimates
The wheat complex experienced positive movement on Tuesday across all three markets. Chicago SRW futures increased by 3 to 4 cents during the trading session. Kansas City HRW contracts saw gains of 2 to 3 cents among nearby contracts. Meanwhile, MPLS spring wheat climbed by 6 to 7 cents in the front months.
Upcoming US Wheat Ending Stocks Update
Traders are anticipating an update on US wheat ending stock estimates this Thursday. The current expectation is for stocks to reach 825 million bushels (mbu), a rise of 6 mbu compared to the previous month, if forecasts hold true.
EU Wheat Export Totals Lag Behind Previous Year
In European markets, soft wheat exports have reached a total of 16.36 million metric tons (MMT) since the beginning of the marketing year on July 1 to April 5. This figure falls short of last year’s total of 24.96 MMT for the same timeframe.
Wheat Futures Closing Prices
The closing prices for various wheat futures on May 25 are as follows:
- CBOT May 25 Wheat closed at $5.40, up 3 1/2 cents
- CBOT Jul 25 Wheat closed at $5.54, up 3 1/2 cents
- KCBT May 25 Wheat closed at $5.61 1/2, up 2 1/4 cents
- KCBT Jul 25 Wheat closed at $5.75, up 2 1/4 cents
- MGEX May 25 Wheat closed at $6.01, up 7 cents
- MGEX Jul 25 Wheat closed at $6.14 1/2, up 6 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 is solely for informational purposes. For more information, please view the Barchart Disclosure Policy
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
