The wheat complex is holding onto midday losses so far on Monday. Chicago SRW futures are 8 to 9 1/4 cents lower. KC HRW futures are 4 to 5 cents in the red. MPLS spring wheat is fractionally to 2 cents lower at midday.
USDA’s FGIS tallied wheat export shipments at 458,411 MT (16.84 mbu) during the week ending on March 19. That was 33.39% above the week prior but 5.53% below than the same week last year. Mexico was the top destination of 128,882 MT, with 68,376 MT headed to China and 50,093 MT to Taiwan. Marketing year exports for 2025/26 are 19.93 MMT (732.3 mbu) since June 1, which is now 17.98% ahead of the same period last year.
Early on Monday morning, President Trump put out a Truth Social post ordering the military to postpone strikes against Iranian power plants and energy infrastructure for 5 days after weekend tales were “good and productive.” Iran state media responded stating there was no direct or indirect contact with the President. Oil is down $9.03 at midday.
CFTC data from Friday afternoon showed a total of 9,643 contracts trimmed from the CBT wheat spec net short position as of Tuesday. A mix of new longs and fewer shorts took the net short to 12,702 contracts. In KC wheat futures and options, managed money increased their net long by just 1,301 contracts to 10,729 contracts.
May 26 CBOT Wheat is at $5.86, down 9 1/4 cents,
Jul 26 CBOT Wheat is at $5.99, down 8 1/4 cents,
May 26 KCBT Wheat is at $6.01 1/2, down 4 3/4 cents,
Jul 26 KCBT Wheat is at $6.16 3/4, down 4 1/2 cents,
May 26 MIAX Wheat is at $6.26 3/4, down 1 1/4 cents,
Jul 26 MIAX Wheat is at $6.41, down 3/4 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.
