Wheat futures are extending the losses on Tuesday morning. The complex gave back most of Friday’s gains, as losses extended across the three exchanges on Monday. Chicago SRW futures were back down 8 to 9 cents in the front months at the close. Kansas City HRW contracts closed with 12 to 13 cent losses on the session. MPLS spring wheat was down 9 to 11 cents at the final bell.
The weekly Crop Progress report from NASS showed the US spring wheat crop at 7% planted, matching the 5-year average pace. The winter wheat crop was pegged at 8% planted, in line with the average pace. Conditions of the winter wheat crop were down 1% to 47% good/excellent, with the Brugler500 index rising 1 point to 329 on a 2% shift out of the poor/verry poor categories.
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USDA’s Export Inspections report indicated a total of 604,461 MT (22.21 mbu) of wheat shipped in the week that ended on 4/10. That was up 80.4% from the previous week but down 2.53% from the same week in 2024. Mexico was the largest destination of 130,058 MT, with 83,533 MT to Japan. Shipments for the marketing year have totaled 18.295 MMT (672.2 mbu), a 14.42% increase from the same period last year.
May 25 CBOT Wheat closed at $5.47 1/2, down 8 1/4 cents, currently down 3 cents
Jul 25 CBOT Wheat closed at $5.61 3/4, down 8 1/2 cents, currently down 3 cents
May 25 KCBT Wheat closed at $5.55 1/4, down 12 3/4 cents, currently down 6 cents
Jul 25 KCBT Wheat closed at $5.70 1/4, down 13 cents, currently down 5 1/2 cents
May 25 MGEX Wheat closed at $6.04 3/4, down 10 1/4 cents, currently down 3 cents
Jul 25 MGEX Wheat closed at $6.19, down 9 1/2 cents, currently down 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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