Wheat is trading with winter wheat contracts higher and spring wheat lower. The wheat complex posted gains across the three markets on Thursday. Chicago SRW futures closed 7 to 9 cents higher in the front months. Open interest was down 755 contracts on Thursday. KC HRW futures were 7 to 9 cents in the green on the day. OI dropped 1,963 contracts. MPLS spring wheat was up 4 to 6 cents at the close.
Export Sales data from Thursday morning showed 373,877 MT of wheat sold in the week of January 29. That was down 33.02% from the previous week and 14.81% below the same week last year. The largest buyer was the Philippines, with 89,200 MT sold to Taiwan, and 67,900 MT to Mexico. Another 41,000 MT was sold for 2026/27.
Large world supplies continue to weigh on the market. Russia’s 2025 wheat crop totaled 93 MMT according to the country’s data, including Russian held territories of Ukraine. Area for 2026 is expected to total 83 MMT.
Mar 26 CBOT Wheat closed at $5.35 1/4, up 8 1/2 cents, currently up 3 1/2 cents
May 26 CBOT Wheat closed at $5.44, up 7 3/4 cents, currently up 3 1/4 cents
Mar 26 KCBT Wheat closed at $5.38 1/2, up 8 1/4 cents, currently up 3 cents
May 26 KCBT Wheat closed at $5.50 1/2, up 7 3/4 cents, currently up 3 cents
Mar 26 MIAX Wheat closed at $5.72 1/2, up 5 1/2 cents, currently down 1 cent
May 26 MIAX Wheat closed at $5.84 1/4, up 4 3/4 cents, currently down 1 cent
