Wheat Market Sees Mixed Trading Following Thursday Gains

The wheat market is experiencing mixed trading as Kansas City (KC) remains the strongest of the three marketplaces. Wheat showed gains across all three exchanges during Thursday’s session. Chicago Soft Red Winter (SRW) futures closed 8 to 9 cents higher, while KC Hard Red Winter (HRW) futures surged 13 to 15 cents. Open interest rose by 1,151 contracts, with 11 deliveries against March KC wheat overnight and 4 for March Chicago Board of Trade (CBT) wheat. Minneapolis (MPLS) spring wheat also bounced back, closing up 9 to 10 cents.

Strong Export Sales Boost Market Confidence

Thursday morning’s Export Sales report revealed the second-largest weekly wheat purchase total for the marketing year at 783,416 metric tons (MT) for the week ending March 6. Panama led the buyers with a hefty 237,600 MT, followed by South Korea with 160,000 MT, and unknown destinations accounting for 113,000 MT. Total sales for the 2025/26 market year reached 82,600 MT.

Current Wheat Commitments and Predictions

Overall export commitments for wheat now stand at 21.274 million MT, reflecting a 15% increase from the same date last year. This figure represents 94% of the USDA’s recent export projection but still trails the average sales pace of 98%.

Strategie Grains has reduced its estimate for the 2025/26 EU wheat crop by 0.2 million MT, bringing it to 127.5 million MT. Additionally, IKAR has adjusted its Russian wheat export forecast down by 1.5 million MT, now estimating a total of 41 million MT. In France, FranceAgriMer reports that the soft wheat crop remains rated at 74% good to excellent, unchanged from the previous week.

Closing Prices for Wheat Futures

On March 25, CBOT Wheat closed at $5.47 1/4, up 8 1/2 cents but currently unchanged.

May 25 CBOT Wheat finished at $5.62 1/2, also up 8 1/2 cents, and is now down 1 cent.

March 25 KCBT Wheat closed at $5.75, gaining 13 1/4 cents, currently stable.

May 25 KCBT Wheat closed at $5.87 1/2, rising 14 1/2 cents, and is currently up 3/4 cent.

March 25 MGEX Wheat finished at $5.90, up 9 1/2 cents, currently unchanged.

May 25 MGEX Wheat closed at $6.03 3/4, increasing by 9 1/4 cents, and is currently down 1 cent.

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.

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