Wheat Trading Higher at Tuesday’s Midday
The wheat market is trading with gains across the three exchanges so far on Tuesday. Chicago SRW futures are up 8 to 9 cents in the nearbys. KC HRW futures are 6 cents higher in the front months. MPLS spring wheat is 1 to 2 cents in the green so far on the day. Precip in the next week is expected to be minimal in the Plains over the next week. In SRW country, totals are a little heavier with 1-2 inches of precip.
State Crop Progress data showed Kansas at 40% gd/ex, with the Brugler500 rating at 317, as OK winter wheat ratings were 50% gd/ex and 339 on the Brugler500 index scale, with TX ratings at 37% gd/ex and 311 respectively.
Japan is tendering for 96,725 MT of wheat from the US and Canada, with 62,545 MT US specific and offers due on Thursday. South Korea is also tendering for 50,000 MT of UD wheat, due on Wednesday. SovEcon estimates the 2025/26 Russian wheat exports at 38.3 MMT, up 1.9 MMT from their previous number. The European Commission estimates the EU wheat exports at 12.5 MMT as of February 2 since July 1. That lags the same period last year of 19.76 MMT.
Mar 25 CBOT Wheat is at $5.75 3/4, up 9 cents,
May 25 CBOT Wheat is at $5.87 1/4, up 8 3/4 cents,
Mar 25 KCBT Wheat is at $5.91 3/4, up 6 cents,
May 25 KCBT Wheat is at $6.01 1/4, up 6 cents,
Mar 25 MGEX Wheat is at $6.18, up 1 1/2 cents,
May 25 MGEX Wheat is at $6.26 1/2, up 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.