Wheat contracts began Wednesday’s trading session with losses in winter wheat, while spring wheat remained steady or slightly higher as of April 16. The previous day saw gains across all three major exchanges, with Chicago soft red winter futures rising by 7.5 to 10 cents and open interest increasing by 2,101 contracts. Kansas City hard red winter futures led the day’s advances with gains between 18.5 and 20.25 cents, alongside a rise in open interest of 7,393 contracts that indicated new buying activity. Minneapolis spring wheat was up between 11 and 113.5 cents on Tuesday.
The market movement comes as dry conditions are expected to persist over the next week from western Kansas to the Texas panhandle, according to the NOAA seven-day quantitative precipitation forecast (QPF). Meanwhile, areas producing soft red winter wheat are forecasted to receive one to three inches of rain.
French soft wheat exports outside the European Union are estimated at 7.1 million metric tons (MMT), while intra-EU shipments could reach a total of 7.7 MMT—an increase of about 0.13 MMT from last week—according to FranceAgriMer estimates cited in Tuesday’s report. French ending stocks are projected at approximately 3.31 MMT, which is a decrease of about 0.8 MMT from previous numbers.
On Tuesday’s close: May CBOT Wheat settled at $5.92 per bushel (up nearly ten cents); July CBOT Wheat finished at $6.01¼; May KCBT Wheat closed at $6.22¾; July KCBT ended at $6.36¼; May MIAX Wheat reached $6.38; and July MIAX closed at $6.52—all showing increases compared to prior sessions.
Legacy Farmers Cooperative is involved in supporting community initiatives such as local youth agricultural programs and scholarships according to the official website. The cooperative maintains grain centers, agronomy sites, fuel stations and retail locations throughout northwest Ohio according to the official website. It operates as a member-owned organization according to the official website and employs more than 150 people across its divisions according to the official website. Legacy Farmers Cooperative aims “to exceed customer expectations by offering top value and financial returns” for its members according to the official website, serving agricultural producers in ten counties across northwest Ohio according to the official website.
Legacy Farmers Cooperative formed through a merger and continues operations based in Findlay, Ohio where it provides services such as grain marketing, agronomy support and petroleum distribution for area farmers while contributing staff expertise across multiple divisions—and focusing on delivering value for customers throughout northwest Ohio counties according to its official site.
