Wheat Market Experiences Losses Amid Mixed Export Sales Data
The wheat complex faced losses across most contracts on Thursday, with some positions in the Kansas City market showing slight gains. Chicago SRW futures decreased by 3 to 5 cents during the day. Meanwhile, Kansas City HRW contracts exhibited a mixed performance. Minneapolis spring wheat futures closed down by 3 to 4 cents on Thursday.
Export Sales Figures Highlight Trends
Export sales data released this morning revealed net reductions of 13,373 MT for the old crop, which fell between the expected range of a net reduction of 200,000 MT and sales of 100,000 MT for the week of May 15. In contrast, new crop wheat sales surpassed expectations, reaching 882,202 MT, exceeding the estimated range of 300,000 to 700,000 MT. This figure marked a marketing year high for the 2025/26 crop, with total sales being the highest since December 2023. Notably, the largest buyer was from unknown destinations, securing 153,300 MT. The Philippines purchased 137,000 MT, while Japan acquired 102,400 MT.
Global Wheat Production and Consumption Metrics
According to recent data from the International Grains Council, world wheat production for 2025/26 remains steady at 806 MMT. However, consumption is projected to decrease by 1 MMT, while stock levels for the marketing year are expected to rise by 2 MMT, totaling 262 MMT.
Wheat Futures Market Close
Jul 25 CBOT Wheat closed at $5.44 1/2, down 4 3/4 cents.
Sep 25 CBOT Wheat closed at $5.60 1/2, down 3 1/4 cents.
Jul 25 KCBT Wheat closed at $5.40, down 1/2 cent.
Sep 25 KCBT Wheat closed at $5.55, up 1/4 cent.
Jul 25 MGEX Wheat closed at $6.00 1/4, down 4 cents.
Sep 25 MGEX Wheat closed at $6.14, down 3 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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