🌾 WHEAT MARKET DASHBOARD
All US classes • Black Sea • Global trade • Weather • Exports
🌾 US WHEAT CLASSES
−🔴 Soft Red Winter (SRW)
Chicago CBOT - ZW
Eastern US. Low protein (~10%). Cakes, cookies, crackers, pastries.
🟤 Hard Red Winter (HRW)
Kansas City - KE
Great Plains. Med protein (~11-12%). All-purpose & bread flour.
🟡 Hard Red Spring (HRS)
Minneapolis - MWE
Northern Plains. High protein (~13-14%). Premium bread flour.
Protein premiums matter. Mills blend different classes to achieve target protein. HRS commands premium over HRW over SRW. Watch KC-Chicago and Minneapolis-KC spreads.
📈 CHICAGO WHEAT (ZW) PRICES
−CONTRACT MONTHS (CHICAGO)
July (ZWN) = new crop for winter wheat. Each contract = 5,000 bushels.
🌊 BLACK SEA / RUSSIA
−Russia is world's #1 wheat exporter. Black Sea region (Russia, Ukraine, Kazakhstan) accounts for ~30% of global exports. Russian export taxes, shipping corridor status, and ruble strength are key factors.
🌍 GLOBAL COMPETITION
−Top Exporters (share)
🇷🇺 Russia: ~20%
🇪🇺 EU: ~15%
🇨🇦 Canada: ~12%
🇺🇸 USA: ~10%
🇦🇺 Australia: ~10%
🇺🇦 Ukraine: ~8%
🇦🇷 Argentina: ~6%
Top Importers
🇪🇬 Egypt (GASC tenders)
🇮🇩 Indonesia
🇹🇷 Turkey
🇩🇿 Algeria
🇧🇩 Bangladesh
🇵🇭 Philippines
🇳🇬 Nigeria
🌤️ WEATHER
−🇺🇸 US Great Plains
Kansas, Oklahoma, Texas (HRW). Drought in fall/winter affects establishment. Spring freeze risk. Harvest Jun-Jul.
Drought Monitor →🇺🇸 Northern Plains
ND, SD, Montana (HRS). Planted Apr-May, harvest Aug-Sep. Late spring moisture critical.
6-10 Day Outlook →📊 USDA REPORTS
−🚢 US EXPORTS
−US exports ~50% of wheat production. HRW goes to Mexico, Nigeria, Japan. HRS to Philippines, Japan, Taiwan. SRW to Mexico, Egypt. US competes with Black Sea on price.
📦 US SUPPLY & DEMAND
−📅 SEASONAL PATTERNS
−Winter Wheat Cycle (HRW/SRW)
- Sep-Oct: Planting, establishment concerns
- Nov-Feb: Dormancy, freeze damage risk
- Feb-Apr: Rally on spring weather uncertainty
- May: Heading, condition reports
- Jun-Jul: Harvest pressure → typical LOW
- Aug: Post-harvest recovery begins
Spring Wheat Cycle (HRS)
- Apr-May: Planting in Northern Plains
- Jun-Jul: Growing, drought watch
- Aug-Sep: Harvest → seasonal LOW
📍 BASIS & CASH
−Protein premiums vary by class and location. HRS typically $0.50-1.50/bu over HRW. Quality factors: test weight, falling number, vomitoxin. Export basis at Gulf vs PNW differs.
🧮 TOOLS & CALCULATORS
−🔗 RELATED MARKETS
−📋 CONTRACT SPECIFICATIONS
−Other Wheat Contracts
KC HRW (KE): 5,000 bu, Kansas City delivery
Mpls HRS (MWE): 5,000 bu, Minneapolis delivery
Hours: Sun-Fri 7pm-7:45am & 8:30am-1:20pm CT