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.
