On Thursday, the wheat complex saw gains across three markets, with Chicago SRW futures rising 7 to 9 cents, KC HRW futures also up 7 to 9 cents, and MPLS spring wheat gaining 4 to 6 cents at the close. Chicago Board of Trade (CBOT) wheat closed at $5.35 1/4, marking an increase of 8 1/2 cents.
Export sales data released showed that 373,877 metric tons (MT) of wheat were sold in the week of January 29, a decline of 33.02% week-on-week and 14.81% from the same period last year. The Philippines was the largest buyer, with notable sales of 89,200 MT to Taiwan and 67,900 MT to Mexico.
Additionally, Russia’s 2025 wheat crop is estimated at 93 million metric tons (MMT), including areas in occupied Ukraine, with projections for 2026 crop area at 83 MMT.
