Wheat Futures Trade Mixed as Planting Delays Support Winter Crop Contracts
U.S. wheat futures delivered a mixed performance on Wednesday, with winter wheat contracts posting modest gains while spring wheat prices drifted lower. Chicago Soft Red Winter wheat futures rose 2 to 3 cents, led by the December 2026 contract at $6.72 per bushel, while Kansas City Hard Red Winter wheat advanced up to 1.5 cents. In contrast, Minneapolis spring wheat declined by 4 to 6 cents during the session.
Market support for winter wheat stems from slow planting progress across major production regions. Only 51% of the U.S. winter wheat crop was planted as of Sunday, trailing the five-year average pace by 7 percentage points. Planting delays were most pronounced in Kansas, Michigan, and Ohio, where progress lagged historical averages by 12, 15, and 26 percentage points, respectively. Meanwhile, international market demand provided additional background support, highlighted by Algeria purchasing up to 720,000 metric tons of wheat in a recent tender and revised estimates showing higher French non-EU exports alongside reduced ending stocks.
Traders will continue monitoring weather conditions across the U.S. central plains and Midwest to see if planting pace recovers and emergence rates, currently at 27%, improve before winter dormancy. Market participants will also closely follow export activity and global supply adjustments to determine whether winter wheat gains can be sustained.
Key points
- Winter wheat contracts gained up to 3 cents, while Minneapolis spring wheat fell 4 to 6 cents on Wednesday.
- U.S. winter wheat planting reached 51% as of Sunday, trailing the five-year average pace by 7 percentage points.
- Severe planting delays occurred in Ohio, Michigan, and Kansas, lagging normal progress by 26%, 15%, and 12%.
- Algeria acquired an estimated 660,000 to 720,000 metric tons of wheat in a Tuesday import tender.
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How we writeDisclaimerQuestions and answers
Why are winter wheat futures rising?
Winter wheat futures are rising due to planting delays in key producing states like Kansas, Michigan, and Ohio, where planting progress lags the five-year average pace by up to 26 percentage points.
How far behind is U.S. winter wheat planting?
As of Sunday, 51% of the U.S. winter wheat crop had been planted, trailing the five-year historical average pace by 7 percentage points. Crop emergence was reported at 27%.
What recent international sales were reported for wheat?
Algeria bought an estimated 660,000 to 720,000 metric tons of wheat in a tender, while French non-EU export estimates were raised to 6.5 million metric tons, lowering projected ending stocks.