Wheat is showing mixed action on Thursday morning. The wheat complex posed weakness in the winter wheats on Wednesday, as spring wheat turned higher at the close. Chicago SRW futures closed the midweek session with contracts 1 to 3 ½ cents lower. Open interest dropped 9,200 contracts on Wednesday. KC HRW futures were down 1 to 3 cents in the front months on Wednesday. OI dropped 6,728 contracts. MPLS spring wheat saw some late day strength to close with gains of 1 to 4 cents.
Weekly Export Sales data will be published for the week of 2/19 this morning, as traders are looking for between 250,000 and 500,000 MT of wheat sales for old crop. New crop sales are seen in a range of 0 to 50,000 MT.
Algeria purchased an estimated 600,000 MT of wheat in a tender on Tuesday. Saudi Arabia issued a tender for 655,000 MT of wheat overnight, with a Friday deadline for offers. Russia’s wheat export estimate for 2025/26 was trimmed by 0.3 MMT to 45.4 MMT by SovEcon.
Mar 26 CBOT Wheat closed at $5.65 3/4, down 1 3/4 cents, currently up 1 cent
May 26 CBOT Wheat closed at $5.69 3/4, down 3 1/2 cents, currently up 1 cent
Mar 26 KCBT Wheat closed at $5.52 1/2, down 1 3/4 cents, currently down 2 1/4 cents
May 26 KCBT Wheat closed at $5.64 1/4, down 2 3/4 cents, currently down 2 cents
Mar 26 MIAX Wheat closed at $5.84 1/2, up 4 cents, currently down 1 1/2 cents
May 26 MIAX Wheat closed at $5.97, up 1 1/2 cents, currently down 1 3/4 cents
