Wheat futures are experiencing strength on Friday morning, particularly in winter wheat, while spring wheat shows weakness. The Chicago SRW futures closed Thursday up by 7 to 8 cents, marking an increase in open interest by 7,804 contracts. The Kansas City HRW futures also increased by 5 to 6 cents, and the Minneapolis spring wheat rose by 10 cents in the front months.
Traders are awaiting delayed USDA Export Sales data, with expectations ranging between 150,000 and 450,000 metric tons in wheat bookings for the week. Additionally, Russia’s wheat crop estimate for 2026 stands at 83.8 million metric tons, unchanged from prior forecasts.
Key closing prices from March 26 show CBOT Wheat at $5.15 ½, Kansas City Wheat at $5.25 ¾, and Minneapolis Wheat at $5.74 ¾, all reflecting respective increases from previous trading sessions.
