Wheat Starting Stronger on Thursday Morning

November 20, 2025 at 08:27 AM EST

Wheat futures are trading with Thursday morning gains in the winter wheats and steady action in the spring wheat market. The wheat complex is showing weakness across the three exchanges at midday. Chicago SRW futures were 9 to 10 cents lower on Wednesday. Preliminary open interest dropped 2,240 contracts KC HRW futures settled 10 to 11 1/4 cents in the red. OI was down 5,419 contracts on Wednesday. MPLS spring wheat futures were down 1 to 3 cents at the close on Wednesday. Talks of a possible peace deal with Ukraine and Russia were adding pressure.

Rain is expected to fall across much of Southern Plains over the next week, extending over to parts of SRW country. Totals are heaviest in TX, OK, and AR, with 4 to 6 inches expected and other totals over an inch.

Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.

Census trade data was delayed due to the shutdown but tallied a total of 2.69 MMT of wheat shipped in August. That was the highest total in 9 years for the month and a 16.81% increase from last year.

Export Sales data will be released on Thursday showing data for the week of 10/2. Analysts are looking for between 350,000 and 600,000 MT in wheat sales.

Delayed Commitment of Traders data showed specs adding 1,474 contracts to their net short in CBT wheat by September 30 to 99,209 contracts. In KC wheat, they were adding 3,569 contracts to 53,873 contracts net short.

Saudi Arabia issued a tender to buy 300.000 MT of wheat with offers due on Friday.

Dec 25 CBOT Wheat closed at $5.36 3/4, down 9 3/4 cents, currently up 4 cents

Mar 26 CBOT Wheat closed at $5.49 1/2, down 9 1/2 cents, currently up 3 1/4 cents

Dec 25 KCBT Wheat closed at $5.15 1/2, down 10 3/4 cents, currently up 1 1/4 cents

Mar 26 KCBT Wheat closed at $5.31 3/4, down 11 1/4 cents, currently up 1 1/2 cents

Dec 25 MGEX Wheat closed at $5.81 1/4, down 1 1/2 cents, currently unch

Mar 26 MGEX Wheat closed at $5.86 3/4, down 2 1/4 cents, currently up 1/4 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.

More news from Barchart