Wheat Pulls Back to Close Mixed on Monday

Wheat futures were mixed across exchanges on Monday: Chicago SRW rose 3 3/4 to 7 1/4 cents, KC HRW fell 1 1/2 to 2 1/2 cents, and MPLS spring wheat was steady to up 4 cents. The move reflects a routine intra-day divergence within the wheat complex, with HRW weakness offsetting strength in SRW and spring wheat. No broader macro catalyst or major supply shock is indicated in the text.

Analysis

Wheat futures were mixed across exchanges on Monday: Chicago SRW rose 3 3/4 to 7 1/4 cents, KC HRW fell 1 1/2 to 2 1/2 cents, and MPLS spring wheat was steady to up 4 cents. The move reflects a routine intra-day divergence within the wheat complex, with HRW weakness offsetting strength in SRW and spring wheat. No broader macro catalyst or major supply shock is indicated in the text.