Wheat is showing mostly lower trade on Friday morning with winter wheats softer and spring wheat slightly higher. The wheat complex was in rally mode on Thursday with the hard red contracts, both spring and winter, pushing higher. Chicago SRW futures were 1 to 2 cents in the green. Preliminary open interest suggested new buying, up 4,428 contracts. KC HRW futures were 9 to 10 cents higher at the close. OI was up 1,118 contracts. MPLS spring wheat was up 10 to 11 cents on Thursday.
Export Sales data from Thursday for the week ending on November 27 showed 460,655 MT of wheat sales in that week. That was a 27.4% increase from last week and 21.8% larger than the same week last year. Commitments for wheat exports are now 18.94 MMT, or 696 million bushels, which is 21.8% larger than last year.
SovEcon estimates the 2026 Russian wheat crop at 83.8 MMT, which is unchanged from the previous forecast but down 5 MMT from the year prior. South Korea purchased a total of 50,000 MT of wheat from the US and 9,200 MT from Canada overnight.
Mar 26 CBOT Wheat closed at $5.07 3/4, up 1 1/2 cents, currently down 3/4 cent
May 26 CBOT Wheat closed at $5.18 3/4, up 1 1/2 cents, currently down 3/4 cent
Mar 26 KCBT Wheat closed at $5.17, up 9 1/4 cents, currently down 1 cent
May 26 KCBT Wheat closed at $5.29 1/4, up 9 cents, currently down 1 cent
Mar 26 MGEX Wheat closed at $5.73, up 11 cents, currently up 1 cent
May 26 MGEX Wheat closed at $5.83, up 10 1/2 cents, currently up 1 1/4 cent
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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