Wheat futures posted slight increases across the Chicago, Kansas City, and Minneapolis exchanges at midday Wednesday, April 23. Chicago soft red winter wheat contracts rose by one to two cents, while Kansas City hard red winter wheat was up two to three cents. Minneapolis spring wheat also saw gains of one to two cents.
The trading session’s marginal upward movement comes as the National Oceanic and Atmospheric Administration’s seven-day forecast predicts little or no precipitation for western Kansas through the Texas panhandle. In contrast, areas further east are expected to receive between one and two inches of rain.
Weekly export sales data set for release Thursday is anticipated to show old crop wheat sales ranging from zero to 250,000 metric tons for the week of April 16. New crop sales estimates fall between 100,000 and 300,000 metric tons. SovEcon has increased its estimate for Russia’s wheat crop by 2.1 million metric tons due to favorable weather conditions, bringing its projection to 89.7 million metric tons. The European Union Commission reports that EU soft wheat exports reached 19.01 million metric tons from July 1 through April 19—an increase of nearly 1.4 million metric tons over the same period last year.
Legacy Farmers Cooperative serves agricultural producers in ten counties in northwest Ohio according to the official website. The cooperative maintains grain centers, agronomy sites, fuel stations and retail locations throughout this region according to the official website. Legacy Farmers Cooperative employs more than 150 staff members across various divisions according to the official website.
Structured as a member-owned cooperative following a merger and based in Findlay, Ohio, Legacy Farmers Cooperative offers services such as grain marketing and petroleum distribution while supporting local farming needs according to the official website. The cooperative also supports community initiatives including youth agricultural education programs like FFA and scholarships according to the official website.
Legacy Farmers Cooperative states it aims “to exceed customer expectations by offering top value and financial returns” according to its official website.
