The wheat complex is mixed on Thursday, with the hard red contracts slipping. Chicago SRW futures are up 1 to 3 cents in the front months. KC HRW futures are down 3 to 4 cents at midday. MPLS spring wheat is fractionally to 4 cents in the red.
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, shy of the 250,000 and 500,000 MT estimates for old crop. That was a 6-week low and down 9.68% from the same week last year. New crop sales exceeded the expected range of 0 to 50,000 MT at 107,015 MT, a MY high for 2026/27.
Saudi Arabia issued a tender for 655,000 MT of wheat overnight, with a Friday deadline for offers.
Mar 26 CBOT Wheat is at $5.67 1/4, up 1 1/2 cents,
May 26 CBOT Wheat is at $5.72 1/2, up 2 3/4 cents,
Mar 26 KCBT Wheat is at $5.49 1/2, down 3 cents,
May 26 KCBT Wheat is at $5.61, down 3 1/4 cents,
Mar 26 MIAX Wheat is at $5.80 1/4, down 3 1/4 cents,
May 26 MIAX Wheat is at $5.96 1/4, down 3/4 cent,
