Wheat is showing losses on Friday AM trade. The wheat complex posted gains across all three exchanges on Thursday. Chicago SRW futures were 13 to 15 1/4 higher at the close. Open interest was down 5,730 contracts on Thursday, showing some light short covering. KC HRW futures were 14 to 15 ½ cent in the green in the front months. Open interest was up 5,947 contracts on Thursday MPLS spring wheat was 7 to 8 cents higher on the Thursday session.
Precip over the next 7 days is expected to be heavy in the Southeast, with Eastern parts of the Southern Plains seeing some precip.
Export Sales data from USDA showed a total of 487,998 MT sold in the week ending on February 5. That was 30.52% above last week but still 14.32% below the same week last year. The Philippines was the top buyer of 127,000 MT, with 110,800 MT sold to Mexican importers and 71,700 MT to Indonesia. Sales for new crop were pegged at 13,915 MT.
South Korean mills purchased a total of 50,000 MT of US wheat, as well as 40,000 MT of Canadian wheat.
The FranceAgriMer estimates the soft wheat crop in France at 91% good/excellent, with 87% of the durum crop in gd/ex condition.
Russia’s wheat crop for 2026 is estimated at 91 MMT according to IKAR, up 3 MMT from the previous number.
Mar 26 CBOT Wheat closed at $5.52 1/2, up 15 1/4 cents, currently down 6 cents
May 26 CBOT Wheat closed at $5.58 1/2, up 13 1/4 cents, currently down 5 1/2 cents
Mar 26 KCBT Wheat closed at $5.54, up 15 1/2 cents, currently down 5 3/4 cents
May 26 KCBT Wheat closed at $5.66, up 14 1/4 cents, currently down 7 1/4 cents
Mar 26 MIAX Wheat closed at $5.78 1/2, up 7 1/4 cents, currently down 3 1/2 cents
May 26 MIAX Wheat closed at $5.90 3/4, up 7 3/4 cents, currently down 2 3/4 cents
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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