Market Overview - Wheat prices are declining across all three markets, with Chicago leading the decrease on Tuesday morning [1] - The wheat complex experienced losses on Friday, with Chicago SRW futures down by 9 to 10 cents, while KC HRW futures fell by 10 to 12.5 cents [1] - Open interest in Chicago SRW futures decreased by 4,466 contracts, while KC HRW futures saw an increase of 1,544 contracts [1] Commitment of Traders - Speculative funds increased their net short position in CBT wheat futures and options by 3,900 contracts, bringing the total to 85,655 contracts [2] - In KC wheat, managed money added 10,652 contracts to their net short position, totaling 19,496 contracts [2] Export Data - USDA reported wheat export commitments at 22.467 million metric tons (MMT), reflecting a 16% increase from the previous year, which is 92% of USDA's export forecast [3] International Purchases and Crop Estimates - South Korean mills purchased 50,000 metric tons (MT) of US wheat and 40,000 MT of Canadian wheat [4] - FranceAgriMer estimates that 91% of the soft wheat crop in France is in good/excellent condition, with 87% of the durum crop also rated similarly [4] - Russia's wheat crop for 2026 is projected at 91 MMT, an increase of 3 MMT from previous estimates [4] Current Wheat Prices - As of March 26, 2026, CBOT Wheat closed at $5.48 3/4, down 3 3/4 cents, and is currently down 9 1/4 cents [4] - KCBT Wheat closed at $5.42 1/2, down 11 1/2 cents, and is currently down 5 1/4 cents [4] - MIAX Wheat closed at $5.72 3/4, down 5 3/4 cents, and is currently down 2 1/4 cents [4]

Market Overview - Wheat prices showed slight increases in winter wheat front months while spring wheat experienced weakness, influenced by a stronger US dollar index which rose by $0.581 [1] - Chicago SRW futures closed down by 9 to 11 ¼ cents, with open interest indicating new selling, increasing by 5,993 contracts [1] - KC HRW futures also posted losses of 8 to 9 ½ cents, with open interest up by 1,821 contracts [1] - MPLS spring wheat prices decreased by 6 to 7 cents [1] Flour Milling Report - The NASS Flour Milling report indicated that 227.58 million bushels of wheat were ground for flour from October to December, a decrease of 3.2 million bushels compared to the same period in 2024 [2] Export Data - Export Inspections data revealed that wheat shipments totaled 326,828 MT (12 million bushels) for the week ending January 29, marking a decrease of 13.76% from the previous week but an increase of 29.11% compared to the same week last year [3] - Mexico was the leading destination for wheat shipments at 60,886 MT, followed by Taiwan with 55,702 MT and Malaysia with 55,630 MT [3] - Cumulative marketing year shipments reached 16.69 MMT (613.1 million bushels), reflecting an 18.61% year-over-year increase [3] Commitment of Traders Data - Managed money reduced their net short position in Chicago wheat futures and options by covering 15,957 contracts, bringing the total net short to 94,743 contracts as of January 27 [4] - In KC wheat, speculators trimmed their net short position by 2,689 contracts, resulting in a total of 10,329 contracts [4] Recent Purchases - Taiwan made a significant purchase of 106,350 MT of wheat from the US in a recent tender [4]

Group 1 - Wheat trading showed gains in winter wheat contracts, with Chicago SRW futures up by 1 to 2 cents and KC HRW futures up by 6 to 7 cents [1] - The Export Sales report indicated wheat sales of 432,609 MT for the week of December 11, reflecting a 13.39% increase from the previous week [2] - CFTC data revealed an increase of 20,849 contracts in the spec net short for Chicago futures and options, bringing the total net short to 66,918 contracts as of December 16 [3] Group 2 - The EU commission estimated soft wheat exports from July 1 to December 21 at 10.8 MMT, which is below the 11 MMT recorded during the same period last year [3] - The markets will close early for Christmas and reopen on Friday at 8:30 am CST [1]