Wheat is showing gains on Tuesday morning, with contracts up 1 to 5 cents across the three markets. The wheat complex posted a rally across the three markets in Monday. Chicago SRW was up 17 cents in the front months on the day. Preliminary open interest data was down 2,041 contracts on Monday, with most exiting December. KC HRW futures posted 13 to 14 cent gains at the close. OI dropped 5,625 contracts on Monday. MPLS spring wheat futures were 5 to 9 cents in the green.
USDA tallied wheat export shipments at 246,533 MT (9.06 mbu) during the week ending on November 13. That was 15.41% below the week prior but up 25.06% from the same week last year. Japan was the top destination of 87,493 MT, with 56,620 MT headed to Indonesia and 48,105 MT to Mexico. Marketing year exports for 2025/26 are now 12.363 MMT (454.26 mbu) since June 1, which is now 19.3% above the same period last year.
USDA did not release their weekly Crop Progress report on Monday afternoon as they get back from the government shutdown. The last scheduled report for the year is expected next Monday.
Dec 25 CBOT Wheat closed at $5.44 1/4, up 17 cents, currently up 4 1/2 cents
Mar 26 CBOT Wheat closed at $5.58 1/2, up 17 cents, currently up 3 1/2 cents
Dec 25 KCBT Wheat closed at $5.28 3/4, up 13 1/2 cents, currently up 3 1/2 cents
Mar 26 KCBT Wheat closed at $5.44 3/4, up 13 3/4 cents, currently up 3 3/4 cents
Dec 25 MGEX Wheat closed at $5.74 3/4, up 9 cents, currently up 1 1/4 cents
Mar 26 MGEX Wheat closed at $5.81 1/4, up 5 cents, currently up 3 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.
