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The wheat complex is experiencing midday gains on Friday, with Chicago SRW futures steady to 2 cents higher, KC HRW futures up 4 to 5 cents, and MPLS spring wheat futures down 2 cents for the December contract while remaining fractionally higher in other contracts.
As of now, FranceAgriMer reports that 98% of the country’s soft wheat crop is in good to excellent condition, with 95% already planted. Additionally, the International Grains Council’s updated data indicates a 3 MMT increase in world wheat production, while consumption has decreased by 1 MMT, leaving stocks stable at 275 MMT.
Current wheat prices include Dec 25 CBOT Wheat at $5.28 1/2 (up 1 1/2 cents), Mar 26 CBOT Wheat at $5.41 (up 1/4 cent), and Dec 25 KCBT Wheat at $5.11 (up 4 3/4 cents).
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