Wheat Market Declines Amid Disappointing Export Sales Report

The wheat market is experiencing significant losses this Friday. Chicago SRW futures have dipped by 16 to 17 cents for nearby contracts. Kansas City HRW contracts are down by 13 to 14 cents, while Minneapolis spring wheat futures are showing losses of 10 to 12 cents.

The USDA released its weekly Export Sales report this morning, revealing a disappointing figure of 140,591 metric tons (MT) in 2024/25 wheat sales for the week ending December 26. This is the lowest sales number of the marketing year and falls well below predictions, which ranged from 200,000 to 500,000 MT. South Korea emerged as the largest buyer, purchasing 35,900 MT, followed closely by Thailand, which bought 29,700 MT.

In a related development, Taiwan is seeking to purchase a total of 114,650 MT of wheat from the United States, with bids due next Thursday.

March 25 CBOT Wheat is currently priced at $5.28 3/4, reflecting a decline of 17 cents.

May 25 CBOT Wheat is at $5.41, down 16 1/2 cents.

March 25 KCBT Wheat is trading at $5.38 1/2, down 13 1/4 cents.

May 25 KCBT Wheat is at $5.47 1/2, also down 13 1/4 cents.

March 25 MGEX Wheat is priced at $5.78 1/4, down 11 1/4 cents.

May 25 MGEX Wheat stands at $5.87 1/4, down 10 3/4 cents.

On the date of publication, Austin Schroeder did not hold positions in any of the securities mentioned in this article. All information and data provided herein are for informational purposes only. For more details, please view the Barchart Disclosure Policy here.

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