The wheat market experienced losses across all three exchanges on Tuesday, with Chicago SRW futures declining by 2 to 3 cents, KC HRW futures down by 5 to 6 cents, and MPLS spring wheat remaining fractionally lower. Trading will pause on Thursday for New Year’s Day, with the market reopening at 8:30 am CST on Friday.
SovEcon has revised its estimate for Russian wheat exports in the 2025/26 season to 44.6 million metric tons (MMT), a slight increase of 0.4 MMT from previous figures. Additionally, the Ukrainian Navy reported that Russian drones targeted two vessels heading into Ukrainian ports for wheat loading.
Argentina’s wheat crop has been estimated at 27.8 MMT, according to the Buenos Aires Grains Exchange, reflecting an increase of 0.7 MMT from earlier projections.
