Wheat is trading with early Friday AM gains, as the winter wheats lead the way. The wheat complex was under pressure across the three exchanges at the close. Chicago SRW futures saw weakness on Thursday, with contracts down 2 to 3 cents. Open interest was down 349 contracts on Thursday. KC HRW futures were 5 to 5 cents in the red on Thursday. OI rose 1,299 contracts. MPLS spring wheat was down 4 to 5 cents across the front months at the close.

The markets will be off on Monday for the Martin Luther King Jr. Day holiday. They will open back up on Monday evening. 

Export Sales from Thursday showed wheat bookings at just 156,255 MT in the week of 1/8. The top buyer was unknown destinations at 72,000 MT, with 61,500 MT sold to the Philippines. Sales for 2026/27 were net reductions of 26 MT.

A South Korean importer purchased 92,300 MT of US wheat in Thursday’ tender. 

Expana increased their EU wheat production forecast by 0.3 MMT to 128.6 MMT, but also trimmed their export projection by 1.2 MMT to 28.8 MMT.

Mar 26 CBOT Wheat  closed at $5.10 1/2, down 2 cents, currently up 7 cents

May 26 CBOT Wheat  closed at $5.21 1/2, down 2 1/4 cents, currently up 6 1/2 cents

Mar 26 KCBT Wheat  closed at $5.17 1/4, down 5 cents, currently up 7 3/4 cents

May 26 KCBT Wheat  closed at $5.28 3/4, down 4 3/4 cents, currently up 7 1/2 cents

Mar 26 MIAX Wheat  closed at $5.63 1/2, down 4 1/2 cents, currently up 2 cents

May 26 MIAX Wheat  closed at $5.74, down 4 1/4 cents, currently up 2 1/2 cents

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