Wheat Markets Bounce Back After Recent Weakness

Latest Trading Numbers Indicate Positive Momentum

The wheat complex is once again showing strength on Wednesday, recovering from overnight losses. Chicago SRW futures have increased by 3 to 5 cents. Meanwhile, KC HRW contracts are up 2 to 3 cents, with MPLS spring wheat also rising by 2 to 3 cents so far today.

Following rainfall in parts of the Southern Plains over the weekend and early this week, the latest 7-day Quantitative Precipitation Forecast (QPF) from NOAA suggests a drier outlook for the upcoming week.

Investors are eagerly awaiting the Weekly Export Sales data set to be released on Thursday morning. Analysts expect a range of 350,000 to 650,000 metric tons for 2024/25 sales, while 2025/26 sales are projected between 0 to 50,000 metric tons.

Dec 24 CBOT Wheat is currently priced at $5.80 3/4, up 4 3/4 cents.

Mar 25 CBOT Wheat stands at $6.00, reflecting an increase of 3 3/4 cents.

Dec 24 KCBT Wheat is trading at $5.88 3/4, up 2 1/4 cents.

Mar 25 KCBT Wheat is at $6.03 1/4, gaining 2 1/2 cents.

Dec 24 MGEX Wheat is listed at $6.18 3/4, up 2 1/4 cents.

Mar 25 MGEX Wheat is currently priced at $6.40 1/4, also up 2 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
here.

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