Wheat is down across the three markets, with Chicago leading the charge lower so far on Tuesday morning. The wheat complex closed Friday with losses across all three markets. Chicago SRW futures were 9 to 10 cents lower, as March was still 19 cents higher last week. Open interest was down 4,466 contracts on Friday. KC HRW futures were 10 to 12 1/2 cents in the red on Friday, though March was 11 ¼ cents higher last week. OI was up 1,544 contracts on Friday. MPLS spring wheat was down 5 to 6 cents, with March up 1 3/4 cents last week.Â
Commitment of Traders data showed spec funds adding 3,900 contracts to their net short position in CBT wheat futures and options, to 85,655 contracts. In KC wheat, managed money was adding 10,652 contracts to their net short to 19,496 contracts.
Export Sales data from USDA has wheat export commitments at 22.467 MMT, a 16% increase from last year. That is 92% of USDA’s export numbers and in line with the 93% average pace.
South Korean mills purchased a total of 50,000 MT of US wheat, as well as 40,000 MT of Canadian wheat. The FranceAgriMer estimates the soft wheat crop in France at 91% good/excellent, with 87% of the durum crop in gd/ex condition. Russia’s wheat crop for 2026 is estimated at 91 MMT according to IKAR, up 3 MMT from the previous number.
Mar 26 CBOT Wheat  closed at $5.48 3/4, down 3 3/4 cents, currently down 9 1/4 cents
May 26 CBOT Wheat  closed at $5.48 1/2, down 10 cents, currently down 7 3/4 cents
Mar 26 KCBT Wheat  closed at $5.42 1/2, down 11 1/2 cents, currently down 5 1/4 cents
May 26 KCBT Wheat  closed at $5.53 3/4, down 12 1/4 cents, currently down 5 cents
Mar 26 MIAX Wheat  closed at $5.72 3/4, down 5 3/4 cents, currently down 2 1/4 cents
May 26 MIAX Wheat  closed at $5.84, down 5 3/4 cents, currently down 2 3/4 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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