CME Group/Chicago HQ
Local: +1 312 930 1000
Toll Free: +1 866 716 7274
Global Customer Contacts
Product inquiries, website issues,
and specific questions
Phone: +1 312 930 2316
Toll Free: +1 800 331 3332
More CME Group Direct Lines
Phone list by department
May Wheat finished unchanged at 701 1/2, equal to the high and 3/4 up from the low. July Wheat closed up 1 at 710 3/4. This was 4 up from the low and 6 off the high.
Wheat futures traded both sides of the unchanged today in light volume according to traders. The market is monitoring the corn planting progress across the Corn Belt this week and also weather forecasts for the western plains with some outlooks calling for showers in KS and OK by Sunday. The winter wheat condition report was worse than expected with the KC market showing very little improvement and in some cases conditions got worse. The crop remains well behind schedule and more rainfall is needed in May and June to help yield potential. A USDA crop tour cited favorable conditions for wheat crops in Ukraine. Subsoil moisture reserves were near capacity this spring, and current moisture levels are adequate except for areas of dryness in south-central Ukraine and far eastern Ukraine. The USDA estimates total wheat production at 22 million tonnes compared to 15.8 million last year. European conditions have been similar to the eastern US resulting in crop growth in Germany and France that is well behind schedule although the production outlook continues to look favorable. United Kingdom wheat imports were estimated at 251,176 tonnes in March, including 109,701 tonnes from Germany. French milling wheat finished the day nearly unchanged.
July Oats closed up 2 1/4 at 384 1/4. This was 2 3/4 up from the low and 2 1/2 off the high.
*Disclaimer: The information in the Market Commentaries was obtained from sources believed to be reliable, but we do not guarantee its accuracy. Neither the information nor any opinion expressed therein constitutes a solicitation of the purchase or sale of any futures or options contracts.