Wheat futures declined across major exchanges on Monday. Chicago SRW futures fell 4.5 to 10.25 cents, Kansas City HRW dropped 8.25 to 10.75 cents, and Minneapolis spring wheat lost 6 to 10 cents.
According to the NASS weekly Crop Progress report, 80% of the wheat crop had been planted, running 4% behind the normal pace, with emergence at 56% versus a 61% historical average. The initial condition rating showed only 38% of the U.S. crop in good or excellent condition, a 10‑percentage‑point decline from last year. This corresponds to a Brugler500 index score of 313— the second‑lowest initial rating on record.
Moisture is returning to the forecast, with NOAA projecting 1‑5 inches of precipitation over the next seven days across a broad swath from the Texas Panhandle to the Great Lakes region.
The latest weekly Export Inspections report recorded shipments of 248,534 metric tons (9.13 million bushels), down 7.4% from the prior week but up 25.3% year‑over‑year. Cumulative marketing‑year exports now total 9.509 million metric tons (349.4 million bushels), reflecting a 33.5% increase compared with the same period last year.
December 2024 CBOT wheat settled at $5.58¾, down 10.25 cents.
March 2025 CBOT wheat settled at $5.79½, down 9.75 cents.
December 2024 KCBT wheat settled at $5.61½, down 10.5 cents.
March 2025 KCBT wheat settled at $5.75½, down 10.75 cents.
December 2024 MGEX wheat settled at $5.95¼, down 10 cents.
March 2025 MGEX wheat settled at $6.18, down 9.5 cents.
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