Wheat field at golden hour by Bruno via Pixabay
The wheat complex registered strength on Tuesday in all three markets. Chicago SRW futures posted gains of 4 to 5 cents in Tuesday’s session. KC HRW futures closed 5 to 6 cents in the green. MPLS spring wheat futures were up 12 ¼ cents in December contracts, with other months up 4 to 5 cents. Markets will be closed on Thursday for Thanksgiving, with a full opening at 8:30 CST on Friday.
Data from Commitment of Traders was released this afternoon and shows the week of October 14, with managed money adding 14,387 contracts to its net short position in CBT wheat futures and options at 111,743 contracts. In KC wheat, they added 4,170 contracts to their net short at 67,704 contracts.
Lagged export sales data for the week of October 9 saw 613,899 MT of wheat sold, which was on the higher side of trade estimates of 350,000 to 650,000 MT of wheat sold in that week. That was down from the previous week, but up 21.78% from the same week last year.
A South Korean importer bid for 90,000 MT of wheat from the United States and Canada. IKAR estimates Russia’s 2026 wheat harvest at between 86 and 91 million tons. EU wheat exports from July 1 to November 21 totaled 9.19 MMT, which is behind last year by 0.5 MMT for the same period.
December 25 CBOT Wheat closed at $5.27 1/4, 5 cents more,
March 26 CBOT Wheat closed at $5.39 1/4, up 4 1/2 cents,
December 25 KCBT Wheat closed at $5.13 1/4, an increase of 6 cents,
March 26 KCBT Wheat closed at $5.28 1/4, up 5 3/4 cents,
Dec 25 MGEX Wheat closed at $5.80, up 12 1/4 cents,
March 26 MGEX Wheat closed at $5.81 3/4, up 4 3/4 cents,
As of the date of publication, Austin Schroeder had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. For more information, see Barchart’s Disclosure Policy here.
