The wheat market is retreating lower on Friday, with contracts down across the three exchanges at midday. Chicago SRW futures are trading with 24 to 25 cents in the red. KC HRW futures are 22 to 24 cents lower in the front months at midday. MPLS spring wheat is trading with contracts down 20 to 22 ¼ cents.
The Kansas Wheat Quality Tour was completed on Thursday, with an average yield of 38.9 bpa. That was the lowest average yield for the tour since 2023, and the second lowest since 2018. The production total was 218 mbu, which compares to the 214 mbu from USDA on Tuesday.
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France’s wheat crop was rated at 80% good/excellent as of May 11 according to FranceAgriMer, even with the previous week, with the durum crop at 71%.
Sep 26 CBOT Wheat is at $6.47 1/4, down 24 1/2 cents,
Dec 26 CBOT Wheat is at $6.67, down 24 cents,
Sep 26 KCBT Wheat is at $6.94, down 22 cents,
Dec 26 KCBT Wheat is at $7.08, down 22 1/2 cents,
Sep 26 MIAX Wheat is at $7.00 3/4, down 22 1/4 cents,
Dec 26 MIAX Wheat is at $7.19 3/4, down 21 1/2 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.
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