Wheat was falling on Wednesday, with contracts down across the three markets. Chicago SRW futures saw weakness on the session, with contracts down 11 to 13 cents. KC HRW futures posted losses of 13 to 14 cent on Wednesday. MPLS spring wheat was also heading lower, with losses of 7 to 8 cents.
Snow fall across parts of the central Plains on Tuesday is easing some concerns with the sub zero temps this week.
Texas released their state Crop Progress report on Monday, showing 33% of the crop in gd/ex conditions, a 3% reduction from last week. The Brugler500 index rating was down 9 points to 300.
Mar 25 CBOT Wheat closed at $5.92, down 12 3/4 cents,
May 25 CBOT Wheat closed at $6.06 1/2, down 11 1/4 cents,
Mar 25 KCBT Wheat closed at $6.13 3/4, down 13 1/2 cents,
May 25 KCBT Wheat closed at $6.26 1/4, down 13 cents,
Mar 25 MGEX Wheat closed at $6.33 1/2, down 7 1/2 cents,
May 25 MGEX Wheat closed at $6.48 1/4, down 7 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.
More news from Barchart
- Why Tight Corporate-U.S. Treasury Yield Spreads Signal Good News for Ag Markets Prices
- Big Futures Traders Are Shorting the Cotton Market. Is a Major Move Coming?
- Is Cotton Cheap at Below 70 Cents per Pound?
- The Baltic Dry Freight Index Is Near a 2-Year Low. Why It’s a Bearish Omen for Commodities.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
