The USDA released updated WASDE data on March 26, 2024, raising the US carryout projection for the 2025/26 wheat crop by 5 million bushels to 931 million bushels, due to a reduction in the food use category. World wheat stocks decreased to 277.51 million metric tons, down 0.74 million metric tons from January, and lower than average trade estimates.
In futures trading for March 26, CBOT wheat prices were down 1 ¼ cents at $5.27 ½, while KCBT wheat showed slight gains, up 1 cent to $5.29 ¾. EU soft wheat exports from July 1 to February 8 reached 13.43 million metric tons, an increase of 0.26 million metric tons compared to the same period last year.
