The wheat complex is higher as we trade through Tuesday’s midday. Chicago SRW futures are 5 cents in the green so far on Tuesday. KC HRW futures are 5 to 6 cents higher at midday. MPLS spring wheat futures are trading with 2 to 7 ¼ cent gains on Tuesday. Reports suggest that Ukraine is agreed to some core terms of a peace plan proposed by President Trump, though nothing is official, with likely more talks needed.
Delayed Export Sales data from the week of 10/9 saw 613,899 MT of wheat sold, which was on the higher side of trade estimates of 350,000 to 650,000 MT of wheat sold in that week. That was below the week prior, but up 21.78% from the same week last year.
Winter wheat crop planting was tallied at 97% as of Sunday, matching the average pace, with emergence at 87% and 2 points behind average. The last Crop Progress report for the year showed 48% of the US crop at good/excellent, 3 points ahead of last we but 7 points below last year.
A South Korean importer tendered for 90,000 MT of wheat from the US and Canada. IKAR estimates the 2026 wheat crop in Russia at 86-91 MMT. EU wheat exports from July 1 to November 21 have totaled 9.19 MMT, which is behind last year by 0.5 MMT for that same period.
Dec 25 CBOT Wheat is at $5.27 1/4, up 5 cents,
Mar 26 CBOT Wheat is at $5.39 3/4, up 5 cents,
Dec 25 KCBT Wheat is at $5.12 1/2, up 5 1/4 cents,
Mar 26 KCBT Wheat is at $5.28, up 5 1/2 cents,
Dec 25 MGEX Wheat is at $5.75, up 7 1/4 cents,
Mar 26 MGEX Wheat is at $5.78, up 2 cents,
