All three U.S. wheat markets recorded gains on September 25, 2023, with Chicago SRW closing at $5.49 1/2, up 7 1/4 cents; KC wheat at $5.33 1/4, up 7 1/2 cents; and MPLS spring wheat at $5.92 3/4, up 5 1/4 cents.
As of Sunday, 73% of the U.S. winter wheat crop had been harvested, slightly ahead of the average pace, while spring wheat development stood at 87% headed, 1% below normal. Condition ratings for northern crops decreased to 52% good/excellent, a drop of 2% from the previous week.
The Russian agricultural ministry estimates the country’s wheat crop at 88-90 million metric tons (MMT), while France’s wheat crop is projected to reach 33.4 MMT, reflecting a nearly 30% increase from last year.
