Wheat futures experienced broad losses across all three major exchanges on Tuesday as trading concluded ahead of the Christmas holiday. Chicago SRW futures declined by 3 3/4 to 5 3/4 cents, Kansas City HRW contracts fell between 6 1/4 and 7 1/4 cents, and Minneapolis spring wheat futures dropped 5 to 6 cents.
Weather forecasts indicate precipitation moving into the eastern Plains next week, while the western half is expected to remain dry. Parts of the SRW growing regions are anticipated to receive 1 to 2 inches of rain.
Markets will remain closed all day Wednesday for the Christmas holiday, with a regular open scheduled for 8:30 a.m. CST on Thursday.
Algeria secured an unspecified quantity of wheat through a tender on Tuesday.
Contract settlements included March 2025 CBOT wheat closing at $5.34 3/4 (down 5 3/4 cents) and May 2025 CBOT wheat at $5.45 1/4 (down 5 3/4 cents). March 2025 KCBT wheat settled at $5.43 3/4 (down 7 1/4 cents) and May 2025 KCBT wheat at $5.51 3/4 (down 7 1/4 cents). March 2025 MGEX wheat closed at $5.89 1/2 (down 6 cents) and May 2025 MGEX wheat at $5.97 3/4 (down 5 3/4 cents).
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