Wheat Market Shows Upward Trend Amid Algeria’s Major Purchase

The wheat market is experiencing gains midday on Thursday, with all three markets contributing to the rise. Chicago SRW futures are climbing by 8 to 9 cents. In contrast, KC HRW contracts show a decrease of 9 to 10 cents across the nearby contracts. Meanwhile, MPLS spring wheat futures are enjoying an increase of 6 to 7 cents at midday.

Algeria Boosts Demand with Significant Wheat Purchase

On Tuesday, Algeria made headlines by purchasing 1.17 million metric tons (MMT) of wheat in a tender, a notable increase from the initially reported 630,000 MT. Furthermore, Russia’s IKAR predicts that the country’s wheat exports for the 2025/26 season will dip to 41 MMT, indicating a decrease in its market share from 25% to 20%.

Market Prices for Wheat Futures

Mar 25 CBOT Wheat: $5.43 1/2, up 8 3/4 cents

May 25 CBOT Wheat: $5.54, up 8 3/4 cents

Mar 25 KCBT Wheat: $5.53 3/4, up 10 cents

May 25 KCBT Wheat: $5.61 1/4, up 9 1/2 cents

Mar 25 MGEX Wheat: $5.96, up 6 1/2 cents

May 25 MGEX Wheat: $6.03 3/4, up 6 cents

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

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