The agricultural market saw a significant decline in wheat prices on Friday, with Chicago SRW futures dropping by 10 to 13 cents and July futures falling by 35.75 cents over the week. Kansas City HRW futures experienced a decrease of 12 to 15.5 cents, while July futures fell 32.75 cents. Minneapolis spring wheat also saw declines, down 12 to 13.5 cents for the session, with a 25.75-cent drop for July contracts since last week.
The USDA reported a record net cancellation of 807,348 MT in old crop export sales, attributed in part to Japan’s reduction of 171,600 MT. In contrast, new crop business reached a record high of 1.058 MMT, with Japan being the largest buyer at 252,100 MT. Additionally, Russia’s agriculture ministry projected its wheat exports for the 2025/26 season at 50 MMT, while French wheat crop ratings dropped by 3% to 78% good/excellent, according to FranceAgriMer.
As of last Tuesday, managed money added 13,907 contracts to the CBT wheat net short, totaling 18,706 contracts. The Kansas City wheat net long was trimmed by 3,205 contracts, bringing it to 26,870 contracts.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
