Wheat is mostly lower early on Thursday morning. The wheat complex followed Tuesday’s limit gains with the three exchanges lower on Wednesday. Chicago SRW futures closed with contracts steady to 3 ½ cents lower. Open interest was up 3,742 contracts. KC HRW futures were down 4 ¾ to 7 ¾ cents at the close. OI rose 1,522 contracts on Wednesday. MPLS spring wheat was down 4 to 4 ¼ cents across most contracts. There were 19 deliveries against May CBT wheat overnight. May expires today.
Day 2 of the Kansas Wheat Quality Tour showed an average of 39.3 bpa yield, the lowest day 2 total for the tour since 2023 and below the 53.3 bpa last year. Thursday is the final day of the tour with the average released later in the day.
