Wheat prices showed gains on multiple exchanges early Wednesday, with Chicago SRW contracts increasing by 4.25 to 9.75 cents, KC HRW futures rising by 7.5 to 11.75 cents, and MPLS spring wheat up by 4 to 5.75 cents. Notably, open interest for Chicago contracts increased by 5,032, indicating new buying interest, while KC HRW saw a rise of 1,056 contracts.
As of Sunday, the USDA’s NASS reported that 67% of the U.S. winter wheat crop has been harvested, 6% ahead of the average pace. The spring wheat crop is 72% headed, consistent with the five-year average, and 58% of spring wheat conditions are rated good to excellent, a 1% improvement.
Overnight, Taiwan importers secured 98,150 MT of U.S. wheat, while EU wheat exports from the first 12 days of July stood at 214,904 MT, down from 260,897 MT during the same period last year.
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