Wheat Markets Show Gains Across Major Exchanges

The wheat markets are trading higher today, with contracts up on all three major exchanges. Chicago SRW futures have reported gains of 5 to 6 cents by midday. Meanwhile, Kansas City HRW futures are showing an increase of 6 to 9 cents as Wednesday’s session progresses. Additionally, MPLS spring wheat is also up, reflecting gains of 1 to 3 cents.

Export Sales Data and European Wheat Stocks

Expectations for Thursday’s export sales data suggest net reductions could range between 100,000 metric tons (MT) and 200,000 MT for old crop wheat. New crop sales are projected between 0 to 300,000 MT. In Europe, the French soft wheat ending stocks for 2024/25 are estimated at 2.81 million metric tons, which is a slight decrease of 0.1 million MT from prior estimates by FranceAgriMer. Furthermore, the European Commission has reported that EU soft wheat exports totaled 16.67 million MT as of April 13, falling short of last year’s 25.71 million MT total.

Algerian Wheat Purchases

Notably, Algeria has made significant purchases, securing a total of at least 570,000 MT of wheat in a tender held on Wednesday.

Current Wheat Futures Prices

The following are the current prices for wheat futures:

• May 25 CBOT Wheat: $5.48, up 6 cents
• July 25 CBOT Wheat: $5.61 3/4, up 5 3/4 cents
• May 25 KCBT Wheat: $5.61 1/4, up 8 1/4 cents
• July 25 KCBT Wheat: $5.74 3/4, up 6 1/4 cents
• May 25 MGEX Wheat: $6.03 3/4, up 2 1/2 cents
• July 25 MGEX Wheat: $6.17, up 1 1/2 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 are 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 those of Nasdaq, Inc.