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 this 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 this 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 on first notice day, with 2 against December KC wheat and 34 against the hard red spring wheat contract.
Delayed Export Sales data for the week of October 16 was out this morning, with a total of 341,306 MT of wheat sold. That was below the trade estimates and a 3-week low.
The catch-up will continue on Monday with USDA data for the week of 10/23 expected to show between 350,000 and 650,000 MT of wheat sales.
The FranceAgriMer estimates the French wheat crop at 98% planted as of 11/24. Conditions were down 1 percentage point to 97%. The European Commission estimates the EU production at 134.2 MMT, a 0.8 MMT increase from the previous number. Ending Stocks for 2025/26 were estimated at 11.5 MMT, a 0.7 MMT hike from last month. Argentina’s wheat crop is estimated to total 25.5 MMT according to a Buenos Aires Grains Exchange, a 1.5 MMT increase from the previous estimate.
Dec 25 CBOT Wheat closed at $5.31, up 2 cents,
Mar 26 CBOT Wheat closed at $5.38 1/2, down 2 cents,
Dec 25 KCBT Wheat closed at $5.17 3/4, up 1/2 cent,
Mar 26 KCBT Wheat closed at $5.27 1/2, down 2 1/2 cents,
Dec 25 MGEX Wheat closed at $5.79 1/4, up 2 3/4 cents,
Mar 26 MGEX Wheat closed at $5.78, down 1/2 cent,
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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