**Wheat Market Update: March 26, 2023**
Chicago SRW wheat futures closed up by 3.75 cents at $5.92 1/4, while Kansas City HRW remained unchanged at $6.01 1/2. In contrast, Minneapolis spring wheat futures dropped by 3.5 cents to $6.22 3/4. Weekly export sales data revealed the largest wheat sales in four weeks at 455,439 metric tons for the week ending March 5, significantly surpassing the previous week’s volume, with Mexico as the leading buyer at 238,600 MT.
January wheat exports reached a three-year high of 1.529 million metric tons (59.2 million bushels). Additionally, the European Union’s export forecast for soft wheat was revised down by 0.5 million metric tons to 27.1 million metric tons, while production for 2026/27 has been increased by 0.3 million metric tons to 128.6 million metric tons.
