Wheat Markets Experience Notable Declines Amid Mixed Crop Reports

The wheat complex faced continued pressure on Tuesday, with declines noted across all three markets. Chicago SRW futures ended the session down between 5 to 6 cents. Similarly, Kansas City HRW futures recorded losses of 1 to 3 cents at the day’s close, while MPLS spring wheat fell by 3 to 4 cents in the nearby contracts.

US Crop Progress and Conditions Report

The latest weekly Crop Progress report from NASS indicates that the US spring wheat crop is currently 7% planted, aligning with the five-year average. The winter wheat crop is also at 8% planted, consistent with historical trends. However, the condition of the winter wheat crop has declined by 1%, now rated at 47% good/excellent, while the Brugler500 index increased by 1 point to 329 due to a 2% improvement in the categories for poor/very poor conditions. Notably, the state-level data shows that HRW states experienced the most significant declines: Nebraska dropped 30 points, Colorado fell by 12 points, and Kansas saw a decrease of 9 points.

International Wheat Production Estimates

The French farm ministry has estimated the nation’s soft wheat crop at 4.61 million hectares (11.44 million acres), reflecting a 10% increase from the previous year. In Argentina, the Buenos Aires Grains Exchange projects a wheat crop of 20.5 million metric tons (MMT) for the 2025/26 season, a rise from last year’s estimate of 18.6 MMT.

Market Closing Prices

May 25 CBOT Wheat closed at $5.42, down 5 1/2 cents.

Jul 25 CBOT Wheat closed at $5.56, down 5 3/4 cents.

May 25 KCBT Wheat closed at $5.53, down 2 1/4 cents.

Jul 25 KCBT Wheat closed at $5.68 1/2, down 1 3/4 cents.

May 25 MGEX Wheat closed at $6.01 1/4, down 3 1/2 cents.

Jul 25 MGEX Wheat closed at $6.15 1/2, down 3 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 is solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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