Wheat Markets Show Positive Trends in Latest Trading Session

The wheat markets ended Wednesday’s trading session with most contracts seeing gains. Chicago SRW futures rose by 1 1/2 to 2 1/2 cents. Similarly, KC HRW contracts experienced an increase of 1 ½ cents. Meanwhile, MPLS spring wheat remained steady, closing up to 3 1/4 cents higher.

Export Sales and Future Expectations

This week’s Export Sales report is anticipated to reveal wheat bookings for 2024/25 between 275,000 and 600,000 metric tons (MT) for the week that concluded on December 5. Additionally, sales estimates for 2025/26 range from 0 to 50,000 MT.

WASDE Report Highlights

The monthly WASDE report indicated a decrease in US wheat ending stocks, down 20 million bushels to 795 million bushels, largely attributed to an increase in export totals. In contrast, global stocks rose by 0.31 million metric tons to reach 257.88 million metric tons.

Wheat Futures Close Rates

Dec 24 CBOT Wheat closed at $5.43 1/2, up 1 1/2 cents.

Mar 25 CBOT Wheat closed at $5.63 1/4, also up 1 1/2 cents.

Dec 24 KCBT Wheat closed at $5.50 3/4, marking an increase of 1 1/2 cents.

Mar 25 KCBT Wheat finished at $5.67 1/4, rising by 1 1/2 cents.

Dec 24 MGEX Wheat closed at $5.82 1/4, unchanged.

Mar 25 MGEX Wheat ended at $6.06 1/2, remaining steady.

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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.