Wheat Futures Decline Despite Solid Export Sales Data

Midday trading reveals a downward trend across the wheat complex as futures lose ground.

The wheat market is experiencing losses in midday trading sessions. Chicago SRW futures have dropped by 8 to 9 cents in nearby contracts. Similarly, KC HRW contracts are down by 6 to 7 cents today. Additionally, MPLS spring wheat futures are mirrored with a decrease of 6 to 7 cents.

This morning, the USDA published Export Sales data indicating that wheat exports totaled 457,933 metric tons for the week ending December 12. This figure marks a four-week high and falls within the expectations of 225,000 to 550,000 metric tons. Notably, the Philippines accounted for 83,000 metric tons purchased, while 80,800 metric tons were shipped to Venezuela.

Furthermore, a South Korean import resulted in the purchase of 86,800 metric tons of wheat from the United States overnight. Strategie Grains projects that the U.S. wheat crop for the 2025/26 season will reach 126.6 million metric tons, which is an increase of 12.4 million metric tons compared to the previous year.

Mar 25 CBOT Wheat is currently priced at $5.32 1/2, down 8 3/4 cents.

May 25 CBOT Wheat is at $5.43 1/4, down 8 1/2 cents.

Mar 25 KCBT Wheat stands at $5.42 3/4, down 6 cents.

May 25 KCBT Wheat is priced at $5.50 3/4, down 6 cents.

Mar 25 MGEX Wheat is listed at $5.85 1/2, down 6 1/2 cents.

May 25 MGEX Wheat is at $5.92 1/2, down 6 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.