The wheat complex was in rally mode on Thursday with the hard red contracts, both spring and winter, pushing higher. Chicago SRW futures were 1 to 2 cents in the green. KC HRW futures were 9 to 10 cents higher at the close. MPLS spring wheat was up 10 to 11 cents on Thursday.
Export Sales data from this morning for the week ending on November 27 showed 460,655 MT of wheat sales in that week. That was in the middle of the 250,000-600,000 MT trade estimates. That was a 27.4% increase from last week and 21.8% larger than the same week last year. Commitments for wheat exports are now 18.94 MMT, or 696 million bushels, which is 21.8% larger than last year.
Expana estimates the EU soft wheat crop at 128.3 MMT for 2026/27, a drop of 8.5 MMT from last year if realized. SovEcon estimates the 2026 Russian wheat crop at 83.8 MMT, which is unchanged from the previous forecast but down 5 MMT from the year prior.
Mar 26 CBOT Wheat closed at $5.07 3/4, up 1 1/2 cents,
May 26 CBOT Wheat closed at $5.18 3/4, up 1 1/2 cents,
Mar 26 KCBT Wheat closed at $5.17, up 9 1/4 cents,
May 26 KCBT Wheat closed at $5.29 1/4, up 9 cents,
Mar 26 MGEX Wheat closed at $5.73, up 11 cents,
May 26 MGEX Wheat closed at $5.83, up 10 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.
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