Wheat Market Boosts with Solid Sales Report

Friday’s wheat market shows positive trading trends, with prices increasing across the three major exchanges. Chicago SRW futures have risen between 3 to 4 cents, while KC HRW futures mirror this increase with gains of 3 to 4 cents as well. Meanwhile, MPLS spring wheat prices have remained steady at midday. Notably, March options are set to expire today.

Strong Export Sales Provide a Confidence Boost

The USDA’s Export Sales report highlights a strong week for wheat, revealing 532,674 metric tons (MT) sold during the week ending on February 13. This figure is close to the upper limit of trade expectations, which ranged from 300,000 to 600,000 MT. Although this represents a 6.48% decrease from the previous week, it is still 128.11% higher than the same week in 2024. Among the buyers, Mexico made a notable purchase of 147,300 MT, while Japan bought 69,900 MT. Moreover, new crop sales exceeded expectations, reaching 98,500 MT, marking a high for the marketing year.

Improving Conditions for French Wheat

According to FranceAgriMer, the condition of the French soft wheat crop has improved by 1%, now recorded at 74% rated good or excellent.

Current Wheat Futures Prices

Mar 25 CBOT Wheat: $5.89 1/4, up 3 3/4 cents

May 25 CBOT Wheat: $6.03 3/4, up 3 1/2 cents

Mar 25 KCBT Wheat: $6.11 1/4, up 3 3/4 cents

May 25 KCBT Wheat: $6.23 1/2, up 3 1/2 cents

Mar 25 MGEX Wheat: $6.32 3/4, unchanged

May 25 MGEX Wheat: $6.47 3/4, unchanged

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
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