Wheat futures saw declines across all three major exchanges on Friday, Apr. 25, with Chicago Soft Red Winter (SRW) contracts falling by 6 to 7 cents in the near-term months. Kansas City Hard Red Winter (HRW) wheat also posted losses of between 6 and 12 cents for most contracts, while Minneapolis spring wheat was down by 1 to 2 cents in the front months.
The changes come as weekly export sales reported total commitments at 24.67 million metric tons, which is a rise of 15 percent compared to the same period last year. This figure represents about 101 percent of the United States Department of Agriculture’s export projection and is close to the five-year average of 102 percent.
Internationally, IKAR reduced its estimate for Russia’s wheat crop by one million metric tons to a total of ninety million metric tons. In France, FranceAgriMer rated eighty-three percent of its soft wheat crop as good or excellent—a decrease of one percentage point from last week. Meanwhile, Saudi Arabia issued a tender seeking seven hundred ten thousand metric tons of wheat with bids due Friday.
Legacy Farmers Cooperative serves agricultural producers in ten counties throughout northwest Ohio and operates as a member-owned cooperative according to the official website. The cooperative maintains grain centers, agronomy sites, fuel stations and retail locations across northwest Ohio according to its official website. Legacy Farmers Cooperative employs more than one hundred fifty people across various divisions and supports community initiatives including agricultural education programs such as FFA and scholarships according to its official website.
The cooperative focuses on delivering value and financial returns for members while aiming to exceed customer expectations according to its official website.
