The wheat complex failed to hold in the gains on Thursday. Chicago SRW futures were steady to a penny higher at the close. KC HRW futures functionality to 2 cents in the red. MPLS spring wheat is settled Thursday with fractional front month gains.
Export sales data for the week of January 1 was released this morning, as USDA showed 118,701 MT of 2025/26 wheat sold, shy of analysts expectations of 200,000 to 500,000 MT. That was still 6.64% above the same holiday week last year and a 24.4% improvement from last week. The Philippines was the largest buyer of 61,000 MT, with 32,000 MT sold to unknown destinations. There were net reductions of 9,347 MT for 2026/27.
Census data from this morning showed 1.96 MMT (72.2 mbu) of wheat shipped in October, a 6-year high but down 39.19% from last month.
USDA will release an updated WASDE on Monday, with wheat ending stocks seen down 5 mbu to 896 mbu.
Mar 26 CBOT Wheat closed at $5.18, unch,
May 26 CBOT Wheat closed at $5.29, up 1 cent,
Mar 26 KCBT Wheat closed at $5.30 1/4, down 1 1/4 cents,
May 26 KCBT Wheat closed at $5.43, down 1/4 cent,
Mar 26 MIAX Wheat closed at $5.71 1/4, up 3/4 cent,
May 26 MIAX Wheat closed at $5.82 1/2, up 1/2 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 is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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