The wheat complex posted gains across the three markets on Thursday. Chicago SRW futures closed 7 to 9 cents higher in the front months. KC HRW futures were 7 to 9 cents in the green on the day. MPLS spring wheat was up 4 to 6 cents at the close.
Export Sales data from this 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,
May 26 CBOT Wheat closed at $5.44, up 7 3/4 cents,
Mar 26 KCBT Wheat closed at $5.38 1/2, up 8 1/4 cents,
May 26 KCBT Wheat closed at $5.50 1/2, up 7 3/4 cents,
Mar 26 MIAX Wheat closed at $5.72 1/2, up 5 1/2 cents,
May 26 MIAX Wheat closed at $5.84 1/4, up 4 3/4 cents,
