Wheat Markets Struggle as Prices Dip Amid Mixed Export Sales

Wheat Futures Decline While Export Data Shines a Positive Light

The wheat market struggled to keep pace with the rally seen in other grains on Thursday, hitting new lows. Chicago SRW futures experienced a drop of up to 8 ¼ cents, particularly affecting the front months. Meanwhile, Kansas City HRW contracts fell by 2 to 5 3/4 cents. In contrast, Minneapolis spring wheat futures closed slightly lower, down 1 1/2 to 5 1/4 cents.

This morning, the USDA released its Export Sales data, indicating wheat sales of 457,933 MT for the week ending December 12. This figure marked a four-week high and fell within the anticipated range of 225,000 MT to 550,000 MT. Notably, the Philippines accounted for 83,000 MT of this total, while Venezuela received 80,800 MT.

Additionally, South Korea imported 86,800 MT of wheat from the U.S. overnight. Looking ahead, Strategie Grains projected the U.S. wheat crop at 126.6 MMT for the 2025/26 season, which represents an increase of 12.4 MMT from the previous year.

Mar 25 CBOT Wheat  closed at $5.33, down 8 1/4 cents.

May 25 CBOT Wheat  closed at $5.43 1/2, down 8 1/4 cents.

Mar 25 KCBT Wheat  closed at $5.43 1/4, down 5 1/2 cents.

May 25 KCBT Wheat  closed at $5.51, down 5 3/4 cents.

Mar 25 MGEX Wheat  closed at $5.86 3/4, down 5 1/4 cents.

May 25 MGEX Wheat  closed at $5.94 1/2, down 4 3/4 cents.

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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