The Daily Board prints three wheat closes because they are three contracts. Chicago is soft red winter. Kansas City is hard red winter. Minneapolis is hard red spring. A line that says wheat was mixed means one board rose and another fell. It is not one price.
The three boards
SRW is Chicago Board of Trade soft red winter, quoted in U.S. cents per bushel. It is the speculative wheat most often tied to corn and the broader grain trade. It is a poor stand-in for a Prairie spring-wheat bid.
HRW is Kansas City hard red winter, also in U.S. cents per bushel. It is the export and plains reference for hard winter wheat. A Prairie CPSR conversation sometimes looks here. It is still not the cash bid.
HRS is Minneapolis hard red spring, the Minnie, in U.S. cents per bushel. It is the closest U.S. futures reference for hard red spring. Protein, basis, and the Canadian dollar sit between that close and a Saskatchewan or Alberta elevator bid. Durum is not this contract. The Board does not print a durum futures settle.
How to read a split day
If Chicago is up and Kansas City and Minneapolis are down, the issue will say the complex split. Do not average them. The so-what follows the board that matches the grain you are pricing. Spring wheat looks at Minneapolis. A Chicago rally alone does not tighten a Prairie spring bid.
The month on the line is the contract. Dec HRS is December Minneapolis, not a calendar average. A dagger means the print was preliminary.
What the close is not
None of the three is a CWRS cash price, a durum price, or a basis. The Board gives the futures leg and the reason it moved. The Klarenbach Grain Report holds the technical plan. A so-what line is a transmission, not an order to haul.
Closes
Wheat archive: wheat tag. Related: how to read a print, canola close and the cash bid.