Wheat futures are showing morning gains up 1 to 7 cents across key markets as of Tuesday, following a weaker performance where Chicago SRW futures dropped by 14 to 17 cents. On Monday, the Kansas City HRW futures declined by 5 to 6 cents, while preliminary open interest fell by a total of 2,709 contracts.
During the week ending February 26, USDA’s FGIS reported wheat export shipments at 344,272 MT (12.65 million bushels), a 38.9% decrease from the previous week and 11.98% lower than the same week last year. The Philippines was the top destination, receiving 88,227 MT, followed by Tanzania with 47,000 MT and Mexico with 39,587 MT. Cumulative marketing year exports for 2025/26 stand at 18.62 MMT (684 million bushels), now 18.82% higher than during the same period last year.
Saudi Arabia recently secured a total of 794,000 MT of wheat in a tender over the weekend. As for closing prices on March 26, CBOT wheat closed at $5.74 1/2, down 16 3/4 cents, while KCBT and MIAX wheat prices also experienced declines but have seen slight rebounds.
