This month’s report solidified the bearish sentiment hanging over the wheat market. Domestic ending stocks were increased to 931 million bushels, coming in above the average analyst estimate and marking the largest U.S. wheat supply since the 2019/20 season. The build resulted from lower domestic food use estimates. The U.S. stocks-to-use ratio increased to a burdensome 45.9%, a six-year high that should continue to act as a significant headwind for domestic prices.I reached out to Jake Hanley, the Chief Gr ...

The wheat complex is continuing strength on Thursday, with contracts higher across the three exchanges. Chicago SRW futures are 3 to 4 cents higher so far. KC HRW futures are 3 to 4 cents in the green on Thursday. MPLS spring wheat is up 5 to 6 cents at midday Export Sales data released this morning showed wheat sales for the week ending on January 22 at 558,201 MT, on the high end of 275,000 and 600,000 MT estimates. That was back down from last week but 22.39% above the same week last year. More News ...