The wheat complex is trading with gains across the three markets on Tuesday. Chicago SRW futures are 4 to 5 cents in the green so far on the session. KC HRW futures are trading 6 to 7 cent gains on Tuesday. MPLS spring wheat is up 7 to 9 cents in the front months at midday.
Crop Progress data showed the US spring wheat at 12% planted, matching the normal pace from the last 5 years. Emergence was pegged at 2%.
The winter wheat crop was at 20% headed, which was 8 percentage points head of normal. Condition ratings dropped 4 percentage points to 30% gd/ex, with the Brugler500 index down 5 points to 290. An average of the main HRW states was rated at 253 on the Brugler500 index, the lowest since 2023, with SRW at 353.
May 26 CBOT Wheat is at $6.02, up 5 cents,
Jul 26 CBOT Wheat is at $6.10 1/2, up 4 1/2 cents,
May 26 KCBT Wheat is at $6.42, up 7 cents,
Jul 26 KCBT Wheat is at $6.54 1/4, up 6 3/4 cents,
May 26 MIAX Wheat is at $6.63, up 7 3/4 cents,
Jul 26 MIAX Wheat is at $6.80 1/2, up 8 1/4 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.
