Wheat is shooting higher across the three markets on Friday morning, as the winter wheats are leading the charge. The wheat complex was mixed on Thursday, as some contracts found some late-day strength. Chicago SRW futures were up 4 to 6 cents in the front months. Open interest was up 425 contracts on Thursday. KC HRW futures were down 1 to 2 cents at the close. There were no deliveries against Chicago or KC wheat overnight on FND. MPLS spring wheat was steady to 2 cents in the green on the day.
A band of precip is expected to hit parts of the Southern Plains in the next week, with key portions of the western half missing out one some moisture.
Weekly Export Sales for the week of 2/19 was out this morning, with a total of 242,964 MT reported. That was a 6-week low and down 9.68% from the same week last year. The largest buyer was Mexico at 135,300 MT, with 67,900 MT sold to Nigeria. New crop sales exceeded the expected range of 0 to 50,000 MT at 107,015 MT, a MY high for 2026/27.
The French soft wheat crop is estimated at 84% good/excellent, down 4 percentage points from the week prior according to the FranceAgriMer.
Mar 26 CBOT Wheat closed at $5.71 3/4, up 6 cents, currently up 17 3/4 cents
May 26 CBOT Wheat closed at $5.74 1/2, up 4 3/4 cents, currently up 13 cents
Mar 26 KCBT Wheat closed at $5.51 1/2, down 1 cent, currently up 15 cents
May 26 KCBT Wheat closed at $5.62 1/4, down 2 cents, currently up 14 cents
Mar 26 MIAX Wheat closed at $5.84 1/2, unch, currently down 1/2 cent
May 26 MIAX Wheat closed at $5.99 3/4, up 1 3/4 cents, currently up 6 1/4 cents
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
