On Wednesday, the wheat complex showed signs of weakness in winter wheat, with Chicago SRW futures closing down 1 to 3.5 cents, while Kansas City HRW futures fell by 1 to 3 cents. Conversely, MPLS spring wheat saw some late-day strength, gaining 1 to 4 cents. The March 26 CBOT Wheat closed at $5.65¾, a decline of 1¾ cents, and May 26 CBOT Wheat fell 3½ cents to $5.69¾.
Algeria has reportedly purchased an estimated 600,000 metric tons of wheat in a tender on Tuesday. Additionally, Russia’s wheat export estimate for 2025/26 was revised down by 0.3 million metric tons to 45.4 million metric tons, according to SovEcon. Traders are anticipating upcoming Weekly Export Sales data, with expectations of 250,000 to 500,000 metric tons for old crop wheat sales.
