Wheat is trading with Tuesday morning gains, up 1 to 7 cents across the three markets. The wheat complex was in give back mode on Monday, with all three markets weaker. Chicago SRW futures were down 14 to 17 cents across most contracts. Preliminary open interest was down 2,709 contracts on Monday, mainly in May. KC HRW futures were down 5 to 6 cents at the close. OI slipped 729 contracts. MPLS spring wheat as down 1 to 3 cents on Monday.
The 7-day forecast is calling for less than ½ inch of precip in western potions of KS, and the OK/TX panhandles. Eastern portions of the Plains are seen with heavier precip totals.
USDA’s FGIS tallied wheat export shipments at 344,272 MT (12.65 mbu) during the week ending on February 26. That was 38.9% below the week prior and 11.98% shy of than the same week last year. The Philippines was the top destination of 88,227 MT, with 47,000 MT headed to Tanzania and 39,587 MT to Mexico. Marketing year exports for 2025/26 are 18.62 MMT (684 mbu) since June 1, which is now 18.82% above the same period last year.
Saudi Arabia purchased a total of 794,000 MT of wheat in their tender over the weekend.
Mar 26 CBOT Wheat closed at $5.74 1/2, down 16 3/4 cents, currently up 5 cents
May 26 CBOT Wheat closed at $5.77 1/4, down 14 1/4 cents, currently up 3 1/2 cents
Mar 26 KCBT Wheat closed at $5.67, down 5 3/4 cents, currently unch
May 26 KCBT Wheat closed at $5.74 3/4, down 5 3/4 cents, currently up 6 1/2 cents
Mar 26 MIAX Wheat closed at $5.98 1/2, down 1 3/4 cents, currently up 1 1/4 cents
May 26 MIAX Wheat closed at $6.10, down 2 3/4 cents, currently up 2 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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