Chicago Close: Wheat Up on Fall in US Winter Wheat Rating

Wheat futures led the way higher on Tuesday, buoyed in part by a deteriorating US winter wheat crop condition rating. Corn and soybeans also gained. Wheat futures ended higher for the third straight day, with Monday’s weekly USDA crop progress report providing fuel. The report pegged the nationwide winter wheat crop at 50% good to excellent as of Sunday. That is still the highest since 2020 but was a much steeper than expected 5-point drop from a week earlier. The biggest declines were see