The wheat complex failed to join in on the rest of the grain bounce on Thursday, heading to some fresh lows. Chicago SRW futures were steady to down 8 ¼ cents across the board led by the front months. KC HRW contracts were 2 to 5 3/4 cents lower on the day. MPLS spring wheat futures closed 1 1/2 to 5 1/4 cents in the red.
The USDA released Export Sales data this morning with wheat totaling 457,933 MT in the week go 12/12. That was a 4-week high and on the higher end of the trade, which was looking for 225,000 MT to 550,000 MT. The Philippines purchased a total of 83,000, with 80,800 MT sold to Venezuela.
A South Korean import purchased a total of 86,800 MT of wheat from the US overnight. Strategie Grains estimates the US wheat crop to be 126.6 MMT for 2025/26, which is 12.4 MMT above the year prior.
Mar 25 CBOT Wheat closed at $5.33, down 8 1/4 cents,
May 25 CBOT Wheat closed at $5.43 1/2, down 8 1/4 cents,
Mar 25 KCBT Wheat closed at $5.43 1/4, down 5 1/2 cents,
May 25 KCBT Wheat closed at $5.51, down 5 3/4 cents,
Mar 25 MGEX Wheat closed at $5.86 3/4, down 5 1/4 cents,
May 25 MGEX Wheat closed at $5.94 1/2, down 4 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. More news from Barchart- Do We Have to Wait Until Next Year for a Recovery in Wheat?
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