Wheat is showing some strength on Wednesday morning, with contracts up 1 to 5 cents across the three markets. The wheat complex posted Tuesday strength across the three markets. Chicago SRW futures saw 4 to 5 cent gains on the Tuesday session. KC HRW futures were 5 to 6 cents in the green at the close. MPLS spring wheat futures were up 12 ¼ cents in the December contracts, with other months 4 to 5 cents higher. The markets will be closed on Thursday for Thanksgiving, with a hard open at 8:30 CST on Friday. Friday is also first notice day for December futures.
Commitment of Traders data was released on Tuesday afternoon showing the week of October 14, with managed money adding 14,387 contracts to their net short position in CBT wheat futures and options at 111,743 contracts. In KC wheat, they added 4,170 contracts to their net short to 67,704 contracts.
Delayed Export Sales data from the week of 10/9 saw 613,899 MT of wheat sold, which was on the higher side of trade estimates of 350,000 to 650,000 MT of wheat sold in that week. That was below the week prior, but up 21.78% from the same week last year.
A South Korean importer purchased a total of 91,300 MT of wheat from the US and 40,000 MT od wheat from Canada in their tender. IKAR estimates the 2026 wheat crop in Russia at 86-91 MMT. EU wheat exports from July 1 to November 21 have totaled 9.19 MMT, which is behind last year by 0.5 MMT for that same period.
Dec 25 CBOT Wheat closed at $5.27 1/4, up 5 cents, currently up 1 ¼ cents
Mar 26 CBOT Wheat closed at $5.39 1/4, up 4 1/2 cents, currently up 1 ½ cents
Dec 25 KCBT Wheat closed at $5.13 1/4, up 6 cents, currently up 3 ½ cents
Mar 26 KCBT Wheat closed at $5.28 1/4, up 5 3/4 cents, currently up 2 ¼ cents
Dec 25 MGEX Wheat closed at $5.80, up 12 1/4 cents, currently up 5 cents
Mar 26 MGEX Wheat closed at $5.81 3/4, up 4 3/4 cents, currently up 2 ¾ 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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