Wheat markets saw gains across all three major exchanges on Apr. 22, with Chicago Soft Red Winter (SRW) futures closing 5 to 8 cents higher. Kansas City Hard Red Winter (HRW) futures increased by 7 ½ to 9 ¾ cents, while Minneapolis spring wheat posted front-month gains of between 3 and 11.5 cents.
The movement in wheat prices comes as new Crop Progress data indicated that U.S. spring wheat planting reached 12 percent, which matches the average pace of the past five years. Emergence for the crop was recorded at two percent.
Winter wheat development is also ahead of schedule, with twenty percent of the crop headed—eight percentage points above normal for this time of year. However, condition ratings fell by four percentage points to thirty percent good or excellent, according to the Brugler500 index which dropped five points to a score of two hundred ninety. The main HRW states averaged a rating of two hundred fifty-three on this index—the lowest since 2023—while SRW came in at three hundred fifty-three. Kansas ratings declined another twenty points; Texas dropped by two and Colorado fell by seven.
At market close on Tuesday: May CBOT Wheat settled at $6.05 per bushel (up eight cents), July CBOT Wheat at $6.12¾ (up six and three-quarter cents), May KCBT Wheat at $6.43½ (up eight and a half cents), July KCBT Wheat at $6.55¾ (up eight and a quarter cents), May MIAX Wheat at $6.66½ (up ten and a quarter cents), and July MIAX Wheat finished at $6.83¼ (up eleven cents).
Austin Schroeder said he did not have any positions in these securities as of publication date: “On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article.” He added that “All information and data in this article is solely for informational purposes.” More details can be found through Barchart’s Disclosure Policy.
Legacy Farmers Cooperative serves agricultural producers in ten counties throughout northwest Ohio according to its official website. The cooperative supports community initiatives such as youth agricultural education programs including FFA, scholarships, county fairs, and local organizations according to its official website. Legacy Farmers Cooperative operates grain centers, agronomy sites, fuel stations, retail locations across northwest Ohio according to its official website.
Structured as a member-owned organization with more than one hundred fifty employees across divisions according to its official website, Legacy Farmers Cooperative focuses on providing value-added services like grain marketing and petroleum distribution from Findlay while aiming “to exceed customer expectations by offering top value and financial returns” for members according to its official website.
