Wheat prices across three markets posted gains on Friday, with Kansas City (KC) wheat rising by as much as double digits. This increase comes after previous losses, where soft red wheat prices fell by 7 to 8 cents per bushel. The preliminary open interest rose by 13,486 contracts, while KC contracts experienced a decrease of 5 to 6 cents. The stronger U.S. dollar index and the availability of Northern Hemisphere harvest supplies have been influencing market conditions.
The USDA reported on Thursday that export sales were 494,400 metric tons (MT), falling within the estimated range of 300,000 to 700,000 MT, with Mexico and Venezuela identified as top destinations. Meanwhile, the Rosario Grains Exchange estimates Argentina’s wheat crop for the 2025/26 season at 20 million metric tons (MMT), slightly down from 20.7 MMT last year. FranceAgriMer reported the French wheat crop is 69% good/excellent, with harvest completion at 71% compared to just 36% the previous week.
As of September 25, CBOT wheat was closed at $5.33 1/2, down 7 3/4 cents, while currently up by 9 1/2 cents. KC and MGEX wheat also showed similar trends in their respective trades, with most contracts reflecting an upward movement following previous declines.
