**Wheat Market Update – May 26, 2023**
The wheat complex closed higher on May 26, with Chicago SRW futures rising by 3.5 to 5.75 cents, KC HRW futures gaining mostly 1 to 2.25 cents, and MPLS spring wheat increasing by 4.5 to 6.5 cents. In export sales for the week ending March 12, 189,887 metric tons (MT) of old crop wheat were sold, marking a 58.31% decrease from the previous week, while new crop sales reached 212,059 MT, exceeding expectations and showing a decline of 56.82% compared to last year.
Taiwan importers purchased 105,025 MT of U.S. wheat, and SovEcon estimated the 2026 Russian wheat crop at 87.6 million metric tons (MMT), a 1.7 MMT increase. According to the International Grains Council, global wheat production for 2025/26 is projected at 845 MMT, up 3 MMT from the previous month, while old crop stocks are expected to be 283 MMT.
Closing prices for wheat on May 26 included May CBOT at $6.08, July CBOT at $6.19.5, May KCBT at $6.27.25, and May MIAX at $6.44.75.
