Wheat Market Sees Gains as Hard Red Wheat Tour Reports Optimism

The wheat market experienced a positive trading session on Thursday, with all three exchanges showing significant gains. Chicago SRW futures rose by 7 to 8 cents across most contracts by the close. Kansas City HRW futures closed 5 to 6 cents higher, while Minneapolis spring wheat futures bounced back with gains of 2 to 3 cents, recovering from recent downward pressure.

Hard Red Wheat Tour Highlights Strong Production

The annual Hard Red Wheat Tour concluded on Thursday, reporting an average yield of 53 bushels per acre, marking a four-year high. Kansas production was estimated at 338.5 million bushels, showcasing robust output potential in the region.

Export Sales Report Provides Positive Insights

Thursday morning’s Export Sales report indicated old crop wheat bookings at 58,627 metric tons (MT), surpassing the anticipated range that included potential reductions of 200,000 MT and net sales of 100,000 MT. Sales for the 2025/26 marketing year reached 746,155 MT, significantly exceeding trade expectations of 350,000 to 600,000 MT. Notably, 245,000 MT were sold to unidentified destinations, and 139,400 MT went to the Philippines, contributing to a marketing year high with total sales of 804,782 MT—this represented a nine-week high.

International Developments in Wheat Purchasing

Additionally, Saudi Arabia issued a tender to purchase 655,000 MT of wheat. In the EU, the wheat production estimate from Strategie Grains was revised to 129.8 million metric tons (MMT), reflecting an increase of 1.7 MMT from previous estimates.

Market Closing Prices

Sep 25 CBOT Wheat  closed at $5.46 1/2, up 7 1/2 cents.

Dec 25 CBOT Wheat  closed at $5.68, up 7 1/4 cents.

Sep 25 KCBT Wheat  closed at $5.42, up 5 cents.

Dec 25 KCBT Wheat  closed at $5.64 1/2, up 5 1/4 cents.

Sep 25 MGEX Wheat  closed at $5.93, up 2 1/4 cents.

Dec 25 MGEX Wheat  closed at $6.11 3/4, up 2 3/4 cents.

On the date of publication, Austin Schroeder did not hold any direct or indirect positions in the securities mentioned in this article. All information is provided for informational purposes only. For further details, 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.