The wheat complex closed the Tuesday trade mixed, as spring wheat was stronger and KC leading the charge to the downside. Chicago SRW futures posted fractional to penny losses in the front months to close out the day. KC HRW futures closed the Tuesday session with contracts 6 to 7 ¼ cents in the red. MPLS spring wheat was fractionally to 2 cent higher in the front months on the day.
The 7-day forecast from NOAA shows very little precip in the Southern Plains over the next week, with light totals in the SRW area.
Russia’s wheat export projection for 2025/26 is estimated at 46.5 MMT by IKAR, up from their previous estimate of 44.1 MMT. European Commission data showed wheat exports at 11.6 MMT from July 1 to January 11, lagging the 11.8 MMT from last year.
Mar 26 CBOT Wheat closed at $5.10 1/2, down 3/4 cent,
May 26 CBOT Wheat closed at $5.21 3/4, down 1 cent,
Mar 26 KCBT Wheat closed at $5.19 1/2, down 7 1/4 cents,
May 26 KCBT Wheat closed at $5.31 1/4, down 6 3/4 cents,
Mar 26 MIAX Wheat closed at $5.67 1/2, up 3/4 cent,
May 26 MIAX Wheat closed at $5.78 1/2, up 1 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.