Wheat is kicking off Wednesday trade with losses of 2 to 4 cents. The wheat complex was weaker on Tuesday. Chicago SRW futures were steady to 2 cents lower. Open interest rose 3,208 contracts on Tuesday. KC HRW futures are down 5 to 6 cents in the front months on Tuesday. OI ticked up 519 contracts on Tuesday. MPLS spring wheat was 1 to 3 cents weaker.
Precip will be limited in the Southern Plains over the next week, with some totals from scattered precip to 2 inches in parts of SRW country.
EU soft what exports from July 1 to February 22 have totaled 15.38 MMT according to European Commission data, up 1.36 MMT from the same week last year. Algeria purchased wheat in a tender on Tuesday, though totals have yet to be announced. Russia’s wheat export estimate for 2025/26 was trimmed by 0.3 MMT to 45.4 MMT by SovEcon.
Mar 26 CBOT Wheat closed at $5.67 1/2, down 2 cents, currently down 2 1/2 cents
May 26 CBOT Wheat closed at $5.73 1/4, down 1/2 cent, currently down 2 cents
Mar 26 KCBT Wheat closed at $5.54 1/4, down 5 3/4 cents, currently down 3 1/4 cents
May 26 KCBT Wheat closed at $5.67, down 5 1/4 cents, currently down 3 1/4 cents
Mar 26 MIAX Wheat closed at $5.80 1/2, down 2 3/4 cents, currently down 3 cents
May 26 MIAX Wheat closed at $5.96 1/2, down 1 3/4 cents, currently unch
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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