The wheat complex is experiencing losses, with Chicago SRW futures down 6 to 7 cents and KC HRW slipping 5 to 6 cents as of midday trading on December 26. The USDA’s Export Sales data indicates U.S. wheat sales commitments at 9.449 million metric tons, a decline of 31% from the previous year, representing 45% of the USDA export projection.
In addition, expected rainfall over the next week, ranging from 2 to 4 inches across parts of Texas to Nebraska, could improve soil moisture but is likely to slow planting progress in some dry areas. Current prices include CBOT wheat at $7.00¾, down 6¼ cents, and KCBT wheat at $7.61¼, down 5¾ cents.
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