Wheat Falls on Monday
The wheat complex posted losses on Monday, as contracts did pull off the lows into the close. Chicago SRW futures were down 3 ¼ to 7 cents in the nearbys on Monday. KC HRW contracts were a penny to 4 3/4 cents lower on the day. MPLS spring wheat was fractionally to 5 ¾ cents in the red.
Outside pressure from a stronger US dollar index, up 515 points, was weighing on the market.
Rains making their way back into the Southern Plains over the weekend are putting some pressure on the winter wheat markets. Precipitation over the last week will likely improve condition ratings, with the Crop Progress report released on Tuesday afternoon.
Dec 24 CBOT Wheat closed at $5.65 1/2, down 7 cents,
Mar 25 CBOT Wheat closed at $5.80 1/2, down 7 cents,
Dec 24 KCBT Wheat closed at $5.59 1/2, down 4 3/4 cents,
Mar 25 KCBT Wheat closed at $5.73, down 4 1/2 cents,
Dec 24 MGEX Wheat closed at $5.92, down 5 3/4 cents,
Mar 25 MGEX Wheat closed at $6.12 1/4, down 5 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.