Wheat is starting December with weakness across most contracts. The wheat complex saw mixed trade on Friday’s short session. Chicago SRW futures saw mixed action with front months withing 2 cents of unchanged, as December was up 4 cents last week. KC HRW futures were mixed, with December up ½ cent and March 2 ½ cents lower, as the former was up 6 ¾ cents last week. MPLS spring wheat was up 2 ¾ cents in the December contracts, which was up 14 ¼ cents on the week, with other contracts down fractionally lower on the day. There were no deliveries issued against December CBT wheat Friday night, with another 2 against December KC wheat.
Delayed Export Sales data for the week of October 16 was out last Friday, with a total of 341,306 MT of wheat sold. That was a 3-week low.
The catch-up will continue this morning with USDA data for the week of 10/23 expected to show between 350,000 and 650,000 MT of wheat sales.
Russia’s wheat crop for 2025/26 is estimated at 86.5 MMT according to Argus, a 1.9 MMT drop from their prior number. ABARES estimates the 2025/26 Australian wheat crop at 35.6 MMT, a 4% hike from 2024/25.
Dec 25 CBOT Wheat closed at $5.31, up 2 cents, currently up 4 cents
Mar 26 CBOT Wheat closed at $5.38 1/2, down 2 cents, currently down 4 1/4 cents
Dec 25 KCBT Wheat closed at $5.17 3/4, up 1/2 cent, currently up 1/4 cents
Mar 26 KCBT Wheat closed at $5.27 1/2, down 2 1/2 cents, currently down 3 3/4 cents
Dec 25 MGEX Wheat closed at $5.79 1/4, up 2 3/4 cents, currently unch
Mar 26 MGEX Wheat closed at $5.78, down 1/2 cent, currently up 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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