Wheat Falling Back on Friday AM Trade

Wheat is lower across the three exchanges on Friday. The wheat complex saw some late strength on Thursday to close higher across the three markets. Chicago SRW futures 3 1/2 to 5 3/4 cents higher on Thursday. Open interest was up 2,505 contracts. KC HRW futures ended the day with contracts mostly a penny to 2 ¼ cents higher. OI was up 2,168 contracts. MPLS spring wheat was 4 ½ to 6 ½ cents in the green at the close. 

Export Sales data from this morning showed 189,887 MT of old crop wheat sold in the week ending on March 12. That was a 58.31% drop from last week but week above last year’s net reductions for this week. Mexico was the top buyer of 153,100 MT, with 47,600 MT sold to the Philippines, and 33,500 MT to the Dominican Republic.  New crop business was tallied at 212,059 MT, exceeding trade ideas of 0-50,000 MT. That was still 56.82% below last year. The Philippines was the largest purchaser at 100,000 MT, with 54,700 MT sold to Mexico.

FranceAgriMer estimates the country’s wheat crop at 84% good/excellent, steady with last week, as durum was also steady at 81%. 

International Grains Council data showed 2025/26 world wheat production at 845 MMT, up 3 MMT from last month, as use was raised by 2 MMT to 825 MMT. Old crop stocks are seen at 283 MMT, up 1 MMT month/month. The new crop balance sheet shows production dropping 23 MMT yr/yr to 822 MMT, with demand up 6 MMT, and stocks trimmed by 6 MMT to 276 MMT.

May 26 CBOT Wheat  closed at $6.08, up 3 3/4 cents, currently down 9 cents

Jul 26 CBOT Wheat  closed at $6.19 1/2, up 4 cents, currently down 9 1/2 cents

May 26 KCBT Wheat  closed at $6.27 1/4, up 1 1/4 cents, currently down 11 1/2 cents

Jul 26 KCBT Wheat  closed at $6.42 1/4, up 1 3/4 cents, currently down 11 3/4 cents

May 26 MIAX Wheat  closed at $6.44 3/4, up 6 1/2 cents, currently down 6 1/4 cents

Jul 26 MIAX Wheat  closed at $6.58 1/2, up 6 1/4 cents, currently down 6 1/2 cents