Wheat Holding Gains at Midday

Wheat Market Overview - The wheat market is experiencing slight gains, with CBT soft red wheat futures up by 1 to 2 cents at midday [1] - KC HRW futures also show an increase of 1 to 2 cents [1] - MPLS spring wheat contracts are trading mixed at midday [1] Export Data - USDA reported wheat export shipments of 775,073 MT (27.479 million bushels) for the week ending September 11, which is 80.6% higher than the previous week and 31.34% larger than the same week last year [1] - Major export destinations include Mexico (202,728 MT), Indonesia (162,277 MT), and South Korea (100,712 MT) [1] - Marketing year exports for 2025/26 have reached 7.855 MT, representing a 12.09% increase compared to the same period last year [1] Commitment of Traders Report - The Commitment of Traders report indicated that spec traders in Chicago wheat futures and options increased their net short position by 10,451 contracts, totaling 92,394 contracts as of September 9 [2] - In Kansas City futures and options, speculators reduced their net short position by 1,656 contracts, bringing the total to 53,025 contracts [2] Futures Prices - Current futures prices include Dec 25 CBOT Wheat at $5.25 1/2 (up 2 cents), Mar 26 CBOT Wheat at $5.42 3/4 (up 1 3/4 cents), Dec 25 KCBT Wheat at $5.16 (up 1 1/4 cents), and Mar 26 KCBT Wheat at $5.36 3/4 (up 1 3/4 cents) [2] - MGEX Wheat prices show Dec 25 at $5.71 1/2 (down 1/4 cent) and Mar 26 at $5.91 1/2 (up 1/4 cent) [2]