On Tuesday, March 26, the wheat market showed mixed results: Chicago SRW futures decreased fractionally, KC HRW futures gained 1 to 3 cents, and MPLS spring wheat saw an increase of 1 to 2.25 cents. The USDA’s updated WASDE report indicated a U.S. carryout projection for 2025/26 at 931 million bushels, up by 5 million bushels due to a reduction in food use.
Global wheat stocks were reported at 277.51 million metric tons, a decline of 0.74 million metric tons from January and lower than trade estimates. Canada’s stock reduction was attributed to increased exports despite decreased domestic use, while Argentina’s exports rose by 2 million metric tons, leading to a stock decline of 1.7 million metric tons. Conversely, EU stocks increased by 1.45 million metric tons due to reduced exports and higher imports.
Key closing prices for March 26 included: CBOT Wheat at $5.28 1/4 (down 0.5 cents), KCBT Wheat at $5.30 1/2 (up 1.75 cents), and MIAX Wheat at $5.68 1/4 (down 2.25 cents).
