The wheat complex closed Monday with weakness across most contracts, as spring wheat tried to hold up. Chicago SRW futures were fractionally to a penny lower on the day. KC HRW futures were down 1 to 3 cents in most contracts. MPLS spring wheat was fractionally higher to 2 cents lower at the close.
USDA’s FGIS tallied wheat export shipments at 580,130 MT (21.32 mbu) during the week ending on February 5. That was 75.52% above the week prior and 1.72% larger than the same week last year. The Philippines was the top destination of 179,957 MT, with 119,479 MT headed to Bangladesh and 103,146 MT to Mexico. Marketing year exports for 2025/26 are 17.327 MMT (636.6 mbu) since June 1, which is now 18.36% above the same period last year.
USDA will release updated WASDE data on Tuesday, with a Bloomberg survey showing analysts at an average of 918 mbu for US wheat stocks, down 8 mbu from January if realized. World wheat stocks are estimated to total 278.6 MMT, which would be 0.3 MMT higher than in January.
Mar 26 CBOT Wheat closed at $5.28 3/4, down 1 cent,
May 26 CBOT Wheat closed at $5.38 3/4, down 1/4 cent,
Mar 26 KCBT Wheat closed at $5.28 3/4, down 2 1/2 cents,
May 26 KCBT Wheat closed at $5.41 3/4, down 1 3/4 cents,
Mar 26 MIAX Wheat closed at $5.71 1/2, up 1/2 cent,
May 26 MIAX Wheat closed at $5.81 1/4, down 1 1/4 cents,
