Wheat Rallies Back Higher on Thursday
Wheat posted gains across the three exchanges on the Thursday session. Chicago SRW futures were 8 to 9 cents in the greens at the close. KC HRW futures led the charge to the upside, 13 to 15 cents higher on the session. MPLS spring wheat was back up 9 to 10 cents at the final bell.
This morning’s Export Sales release showed the second largest weekly wheat purchase total for the MY at 783,416 MT during the week of March 6. That exceeded trade estimates and was more than double the previous week. Panama was the largest buyer of 237,600 MT, with South Korea in for 160,000 MT and unknown destinations buying 113,000 MT. Sales for 2025/26 totaled 82,600 MT.
Total export commitments for wheat are now 21.274 MMT, an increase of 15% from last year at this date. That is 94% of USDA’s fresh export projection, still lagging the 98% average sales pace.
Strategie Grains pared back their estimate for the 2025/26 EU wheat crop by 0.2 MMT to 127.5 MMT. IKAR trimmed back their Russian wheat export projection by 1.5 MMT to 41 MMT.
Mar 25 CBOT Wheat closed at $5.47 1/4, up 8 1/2 cents,
May 25 CBOT Wheat closed at $5.62 1/2, up 8 1/2 cents,
Mar 25 KCBT Wheat closed at $5.75, up 13 1/4 cents,
May 25 KCBT Wheat closed at $5.87 1/2, up 14 1/2 cents,
Mar 25 MGEX Wheat closed at $5.90, up 9 1/2 cents,
May 25 MGEX Wheat closed at $6.03 3/4, up 9 1/4 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.