The wheat complex is trading with losses on Thursday. Chicago SRW futures are down 6 to 11 ¼ cents across the board on the midweek session. KC HRW futures are leading the way with 20 to 22 cent losses. There were 5 delivery notices against May CBT wheat overnight, with 35 for May KC wheat. MPLS spring wheat is down 15 to 19 cents.
USDA’s Export Sales report from this morning indicated 78,772 MT of old crop sales in the week of 4/30 shy of traders looking for old 100,000 to 300,000 MT. That was the second lowest total for the marketing year. New crop sales were tallied at 187,538 MT, vs. the expected range of 0-250,000 MT. That was the 4th largest for the marketing year.
Algeria purchased an estimated 390,000 to 420,000 MT of wheat in a tender on Wednesday. IKAR estimates the Russian wheat export total at 44.5 MMT for 2025/26, down 1.5 MMT from the previous number. The French soft wheat crop is estimated at 80% good/excellent according to the FranceAgriMer, down 1 percentage point from last week, with Durum down 1% to 71%.
May 26 CBOT Wheat is at $5.95 1/4, down 10 3/4 cents,
Jul 26 CBOT Wheat is at $6.10, down 7 1/4 cents,
May 26 KCBT Wheat is at $6.53 1/2, down 22 1/4 cents,
Jul 26 KCBT Wheat is at $6.66, down 21 cents,
May 26 MIAX Wheat is at $6.78 3/4, down 5 cents,
Jul 26 MIAX Wheat is at $6.73 1/4, down 18 3/4 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.
