Wheat Markets Remain Weak as Tuesday Trading Shows Declining Prices
Wheat markets remain tepid on Tuesday as global prices slide. After Monday’s multi‑exchange loss, Chicago SRW futures slipped between 10 and 11 cents in the front months at settlement. Open interest rose slightly, up 1,565 contracts, while Kansas City HRW futures fell 6‑7 cents, and its open interest dropped 2,318 contracts—primarily in the May contract month. Front‑month performance for MPLS spring wheat also declined by roughly 5‑7 cents.
Monday’s Crop Progress report indicates that 17 % of the spring wheat acreage has been seeded, exceeding the five‑year average of 12 %. Emergence stands at 2 %, within normal expectations. Meanwhile, U.S. winter wheat showed a 15 % advance in heading as of April 20, about two points above the seasonal norm. Ratings for winter wheat fell 2 % to a high range of 45 % good‑to‑excellent, supported by a decline in the Brugler500 index to 325. Forecasts suggest the coming week will feature precipitation across most of the Plains, from Texas southward through South Dakota.
USDA export inspections revealed that 510,250 metric tons (18.75 million bushels) of wheat left American ports during the week ending April 17. Volume fell 16.55 % from the prior week yet rose 13.31 % versus the same week in 2024. Vietnam led foreign sales at 133,547 metric tons, with Mexico receiving 89,273 mt and the Philippines accounting for 64,683 mt of outbound cargo.
May 25 CBOT Wheat closed at $5.38½, down 10¼ cents, currently down 5 cents.
July 25 CBOT Wheat closed at $5.52¼, down 10 cents, currently down 4¾ cents.
May 25 KCBT Wheat closed at $5.50¾, down 6¾ cents, now down 0.75 cents.
July 25 KCBT Wheat closed at $5.63¾, down 6¼ cents, down 1¾ cents.
May 25 MGEX Wheat terminated at $6.00, down 6¼ cents, currently up 0.5 cent.
July 25 MGEX Wheat closed at $6.14, down 5¼ cents, now –¾ cent.
[i>On the date of publication,Austin Schroeder
did not hold any of the securities mentioned in this article. All information and data are provided for informational purposes only.