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This is your Daily Wheat Price Tracker with Vanessa Clark podcast.
Hey friends, welcome back to Daily Wheat Price Tracker with me, Vanessa Clark. Today were diving into the latest on wheat prices, global market moves, and what it all means for you.
First up, the numbers youve been waiting for. On the Chicago Board of Trade, May wheat closed at five dollars and seventy-four cents per bushel, down about three cents from yesterday. Chicago SRW futures dropped fourteen to seventeen cents overall, with Minneapolis spring wheat slipping just one to three cents. Over in Canada, Bunge Moose Jaw Terminal reported one red spring wheat at two hundred sixty-eight dollars and sixty-two cents, down one dollar and thirty-three cents. Soft red winter wheat in Ontario areas like Hensall hovered around seven dollars and twenty-four cents per bushel, also easing a bit.
Why the dip? Grainsprices dot com notes wheat futures gave back gains after last weeks short-covering rally, hit by weaker US export shipments of three hundred forty-four thousand metric tons, down nearly thirty-nine percent from the prior week. Trading Economics points to retreating one-year highs below five dollars and seventy per bushel, thanks to record South American harvests from Argentina and better rains in Australia boosting supply. Russian wheat FOB prices edged up slightly to two hundred thirty-three to two hundred thirty-six dollars per tonne per SovEcon, but US dollar strength is curbing exports.
On the bright side, Black Sea frosts threaten up to twenty percent of Ukrainian winter grains, and Plains dryness lingers despite some coming rain. Saudi Arabias big purchase of nearly eight hundred thousand metric tons shows demand is alive.
Heress your takeaway: If youre a farmer, watch weather in the US Plains and Black Sea keep an eye on export sales for rebound potential. Traders, consider hedging near five dollars and seventy cents support. Home bakers, stock up if prices feel right bakery staples might nudge higher soon.
Thanks for joining me today, pals. Subscribe, share with your farm crew, and tune in tomorrow for more wheat updates. Talk soon!
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