Wheat Futures Rise as Export Sales Report Shows Strong Demand

Wheat futures are experiencing notable gains on Thursday across all three major exchanges. Chicago SRW futures have increased by 13 to 14 cents. Similarly, KC HRW futures are showing an uptick of 12 to 14 cents in the front months at midday. Meanwhile, MPLS spring wheat has risen by 8 to 9 cents today.

Export Sales Report Meets Expectations

This morning, the USDA released its weekly Export Sales report, indicating total wheat sales of 438,867 metric tons for the week ending January 30. This figure aligns with traders’ estimates, which ranged from 200,000 to 550,000 metric tons. Mexico emerged as the largest buyer with 122,000 metric tons, while unknown destinations accounted for 111,000 metric tons. Additionally, sales for the 2025/26 marketing year were reported at 47,296 metric tons, exceeding the expected range of 0 to 50,000 metric tons.

International Tender Results

In other news, Japan has purchased 96,725 metric tons in their weekly tender from the United States and Canada, with 64,545 metric tons coming from the U.S. South Korean importers bought a total of 30,000 metric tons of U.S. and Canadian wheat, with 22,700 metric tons specifically from the U.S.

Current Wheat Prices

Mar 25 CBOT Wheat is trading at $5.86, up 13 3/4 cents.

May 25 CBOT Wheat is priced at $5.97 3/4, up 13 1/4 cents.

Mar 25 KCBT Wheat stands at $6.05 1/4, up 13 1/2 cents.

May 25 KCBT Wheat is at $6.13 3/4, gaining 12 1/2 cents.

Mar 25 MGEX Wheat is quoted at $6.27, up 8 1/2 cents.

May 25 MGEX Wheat is at $6.37, rising 8 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.

More news from Barchart

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