Wheat Prices Climb Across Major Exchanges Amid Steady Planting Progress

A Look at Current Wheat Futures and Crop Progress

The wheat market experienced gains across all three major exchanges on Wednesday. Chicago Soft Red Winter (SRW) futures increased by 1 1/4 to 5 1/2 cents. The Kansas City Hard Red Winter (HRW) contracts rose by 3 to 5 3/4 cents. Meanwhile, Minneapolis Spring wheat recovered with gains ranging from 1 1/4 to 4 3/4 cents.

Winter Wheat Planting and Emergence Data

According to the latest Crop Progress data, the winter wheat planting is currently at 64% completion as of October 13, slightly trailing the average pace by 2%. Emergence stands at 35%, compared to the five-year average of 38%.

Expectations for French Soft Wheat Stocks

The French agricultural agency FranceAgirMer predicts that soft wheat stocks in France will total 2.51 million metric tons (MMT), down 0.24 MMT from the previous month.

Current Wheat Futures Prices

Dec 24 CBOT Wheat closed at $5.85, an increase of 5 1/2 cents.

Mar 25 CBOT Wheat closed at $6.05 1/4, gaining 4 1/2 cents.

Dec 24 KCBT Wheat closed at $5.88 3/4, up 5 3/4 cents.

Mar 25 KCBT Wheat finished at $6.03 1/2, rising by 4 3/4 cents.

Dec 24 MGEX Wheat closed at $6.20 3/4, up 4 1/2 cents.

Mar 25 MGEX Wheat settled at $6.42 3/4, gaining 4 3/4 cents.

On the date of publication, Austin Schroeder did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data contained herein are solely for informational purposes. For more details, please view the Barchart Disclosure Policy here.

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