Wheat is kicking of Friday with modest fractional to 3 cent gains. The wheat complex remained under pressure on Thursday, with the three markets falling into the close. Chicago SRW futures posted losses of 4 ¼ to 8 cents at the Thursday close. There were 12 deliveries issued against May CBT wheat overnight. KC HRW futures led the downside charge, down 19 ½ to 21 cents. MPLS spring wheat was down 13 to 19 ½ cents across most contracts on the day.
USDA’s Export Sales report from Thursday morning indicated 78,772 MT of old crop sales in the week of 4/30. That was the second lowest total for the marketing year. Vietnam was the buyer of 67,400 MMT (66,000 MT switched from unknown), with Thailand buying 53,700 MT and 40,000 MT sold to Mexico. New crop sales were tallied at 187,538 MT, the 4th largest for the marketing year. Much of that was sold to unknown buyers (100,000 MT), with 61,000 MT sold to Thailand.
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IKAR estimates the Russian wheat export total at 44.5 MMT for 2025/26, down 1.5 MMT from the previous number. The French soft wheat crop is estimated at 80% good/excellent according to the FranceAgriMer, down 1 percentage point from last week, with Durum down 1% to 71%.
May 26 CBOT Wheat closed at $6.01 3/4, down 4 1/4 cents, currently unch
Jul 26 CBOT Wheat closed at $6.12 1/4, down 5 cents, currently up 3/4 cents
May 26 KCBT Wheat closed at $6.54 3/4, down 21 cents, currently unch
Jul 26 KCBT Wheat closed at $6.67 1/4, down 19 3/4 cents, currently up 1 1/2 cents
May 26 MIAX Wheat closed at $6.64 1/4, down 19 1/2 cents, currently unch
Jul 26 MIAX Wheat closed at $6.74 3/4, down 18 1/4 cents, currently up 3 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.
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