Wheat Leaking Back Lower on Thursday
The wheat complex trading with losses at Thursday’s midday. Chicago SRW futures are down 2 to 4 cents on the day. The Kansas City HRW market is 1 to 2 cents weaker so far on Thursday. Minneapolis spring wheat futures are slipping back 3 to 5 cents at midday.
Export Sales data released this morning tallied old crop at net reductions of 13,373 MT, between the expected range of net reductions of 200,000 MT and sales of 100,000 MT in the week of 5/15. New crop wheat sales exceeded the range of 300,000 to 700,000 MT estimates at 882,202 MT. That was a MY high for the 2025/26 crop, as combined sales were the largest since December 2023. The largest buyer was unknown destinations at 153,300 MT, with 137,000 MT sold to the Philippines and 102,400 MT to Japan.
Monthly International Grains Council data showed world wheat output for 2025/26 steady at 806 MMT. Consumption was down 1 MMT, with stocks for the marketing year up 2 MMT to 262 MMT.
Jul 25 CBOT Wheat is at $5.45 1/4, down 4 cents,
Sep 25 CBOT Wheat is at $5.61 1/2, down 2 1/4 cents,
Jul 25 KCBT Wheat is at $5.39 1/2, down 1 cent,
Sep 25 KCBT Wheat is at $5.54 1/2, down 1/4 cent,
Jul 25 MGEX Wheat is at $5.99 1/2, down 4 3/4 cents,
Sep 25 MGEX Wheat is at $6.13 1/2, down 3 1/2 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.