Wheat Prices Rise Amid Strong Export Sales for March

Wheat prices gained on all three exchanges during Thursday’s trading session. Chicago SRW futures closed up by 8 to 9 cents. Kansas City HRW futures were the leading performers, surging 13 to 15 cents higher. Meanwhile, Minneapolis spring wheat rallied back by 9 to 10 cents at the closing bell.

The morning’s Export Sales report revealed the second-largest weekly wheat purchase total for the marketing year at 783,416 metric tons during the week ending March 6. This figure exceeded trade expectations and was more than double the total from the previous week. Among significant buyers, Panama topped the list with purchases of 237,600 metric tons, followed by South Korea with 160,000 metric tons and unknown destinations acquiring 113,000 metric tons. Additionally, sales designated for the 2025/26 marketing year totaled 82,600 metric tons.

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Total export commitments for wheat have now reached 21.274 million metric tons, reflecting a 15% increase from the same time last year. However, this represents only 94% of the USDA’s current export projection, trailing slightly behind the 98% average sales pace.

In terms of crop forecasts, Strategie Grains reduced their estimate for the 2025/26 EU wheat crop by 0.2 million metric tons, bringing it down to 127.5 million metric tons. Additionally, IKAR has revised its Russian wheat export projection lower by 1.5 million metric tons, now estimating exports at 41 million metric tons.

Specific closing prices for wheat futures on March 25 are as follows:

• CBOT Wheat Mar 25: closed at $5.47 1/4, up 8 1/2 cents
• CBOT Wheat May 25: closed at $5.62 1/2, up 8 1/2 cents
• KCBT Wheat Mar 25: closed at $5.75, up 13 1/4 cents
• KCBT Wheat May 25: closed at $5.87 1/2, up 14 1/2 cents
• MGEX Wheat Mar 25: closed at $5.90, up 9 1/2 cents
• MGEX Wheat May 25: closed at $6.03 3/4, up 9 1/4 cents

On the date of publication, Austin Schroeder did not hold (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.

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