After plunging precipitously, the Wheat price rebounded from the three-and-a-half-month highs. Reports that bad weather could harm Russia’s wheat crop and increased anxiety over supply interruptions after a drone attack at a Ukrainian stream port caused wheat to spike.
Wheat Revenue Performance
After falling last week, Chicago wheat of December aimed lower, while the December SRW futures contracts are expected to see their fifth weekly progress in the last six weeks. Last Wednesday, the most engaged agreement's greatest settlement since June 18 (6.2325) occurred.
Gross U.S. wheat revenue this past week amounted to 443,700 MT, upward of 46% from the median figure for the four weeks prior. Japan led consumers at 170,200 MT, ahead of Egypt's 70,000 MT. Wheat futures contracts fell despite harder-than-expected USDA-stated export revenue.
According to USDA data, cumulative U.S. wheat exports for the 2024–25 marketing year reached 8.026 MMT, an increase of 37% compared to the same time in 2023–24.
