DTN Wheat Alert

(4/16/2026):

With July futures contracts for Chicago and KC wheat rallying back towards 2026 highs as well as among the highest prices of the past 12 plus months, consider selling another 25% of 2026 winter wheat production. July KC futures were near $6.60 at the time of this recommendation while July Chicago futures were near to $6.15. If storage is an option, the KC market is paying 28 cents of carry currently to the December 2026 futures, while Chicago is paying 29 cents. Hedging against the December may be a better option and allow some of that carry to be earned in the final cash bid.

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(4/16/2026)

2025-26 and 2026-27:

With Minneapolis wheat futures rallying roughly 40 cents through the week thus far on a combination of U.S. drought conditions, worldwide fertilizer constraints and cost concerns, consider rewarding the return of prices toward 2026 highs by selling the final 25% of 2025 HRS production. The DTN HRS Index is likely near $6.16 at the time of this recommendation. At the same time, forward sell the first 25% of new-crop 2026 HRS production, with September 2026 futures near $6.82 and closing in on contract highs.