Market Performance - The wheat complex experienced downward pressure across all three markets, with Chicago SRW futures down 12 to 13 1/2 cents, and May futures falling 18 ½ cents [1] - KC HRW futures closed down 21 to 21 1/2 cents, with May futures down 23 ¾ cents for the week [1] - MPLS spring wheat saw declines of 10 ¾ to 15 3/4 cents in the front months, with May slipping back 17 ½ cents from the previous Friday [1] CFTC Data - CFTC data indicated a reduction of 9,643 contracts from the CBT wheat spec net short position, bringing the net short to 12,702 contracts as of Tuesday [2] - In KC wheat futures and options, managed money increased their net long position by 1,301 contracts, totaling 10,729 contracts [2] Export Commitments - USDA's Export Sales data reported wheat export commitments at 23.853 million metric tons (MMT), reflecting a 14% increase from the previous year [3] - This figure represents 97% of the USDA's export projection of 900 million bushels (mbu) and is slightly behind the 99% average sales pace [3] - Shipment data is ahead of schedule at 19.279 MMT, which is 78% of USDA's forecast compared to the 76% average pace [3] Closing Prices - On May 26, CBOT Wheat closed at $5.95 1/4, down 12 3/4 cents; July 26 CBOT Wheat closed at $6.07 1/4, down 12 1/4 cents [4] - May 26 KCBT Wheat closed at $6.06 1/4, down 21 cents; July 26 KCBT Wheat closed at $6.21 1/4, down 21 cents [4] - May 26 MIAX Wheat closed at $6.28, down 15 3/4 cents; July 26 MIAX Wheat closed at $6.42 3/4, down 15 3/4 cents [4]

Group 1: Wheat Market Performance - The wheat complex continued its rally, with Chicago SRW futures increasing by 24 ½ to 33 cents, and May futures up 25 ¼ cents this week [1] - KC HRW futures rose by 23 ½ to 31 cents, with May futures rallying 43 cents this week [1] - MPLS spring wheat saw an increase of 13 to 23 ½ cents, with May futures up 30 ¼ cents this week [1] - Crude oil futures also contributed to the support, rising by $10.22 at the close [1] Group 2: Export Sales Data - Export sales commitments reached 23.204 million metric tons (MMT), which is 95% of the USDA's estimate, close to the 97% average sales pace [2] - Shipments accounted for 75% of the USDA's export number at 18.45 MMT, ahead of the 72% average pace [2] Group 3: Managed Money Positions - Managed money added 8,503 contracts to their net short position in CBT wheat futures and options, bringing the total to 25,800 contracts [3] - In KC wheat, speculators reduced their net long position by 2,338 contracts, resulting in a total of 1,866 contracts [3] Group 4: French Wheat Crop Conditions - FranceAgriMer estimates that 84% of the French wheat crop is rated as good/excellent, consistent with the previous week's rating [3] - Durum wheat conditions remained steady at 81% [3] Group 5: Closing Prices - On March 26, CBOT Wheat closed at $6.11 ¼, up 28 ½ cents; May 26 CBOT Wheat closed at $6.16 ¾, up 33 cents [3] - KCBT Wheat closed at $6.11 ½, up 26 ¼ cents; May 26 KCBT Wheat closed at $6.23 ½, up 31 cents [3] - MIAX Wheat closed at $6.32 ½, up 23 ½ cents; May 26 MIAX Wheat closed at $6.43, up 23 ½ cents [3]

Market Overview - The wheat complex is experiencing losses at the start of the week, with Chicago SRW futures down by 5 to 7 cents, KC HRW futures down by 7 to 9 cents, and MPLS spring wheat down by 3 to 4 cents [1] Export Data - The Export Inspections report indicated that 351,001 MT (12.9 million bushels) of wheat were shipped in the week of January 22, which is 11.76% lower than the previous week and 27.56% lower than the same week last year. South Korea was the largest destination, receiving 119,036 MT, followed by Japan with 73,230 MT and Mexico with 63,773 MT. The total for the marketing year now stands at 16.33 MMT (600.05 million bushels), which is 18.21% higher than the same period last year [2] Sales Commitments - USDA Export Sales data reported 21.03 MMT of wheat commitments by January 15, which is 18% above last year and represents 86% of the USDA's projected sales, close to the average sales pace of 87% [3] Trader Positions - Commitment of Traders data revealed that managed money increased their net short position by 4,471 contracts as of January 20, bringing the total net short position for CBT wheat to 110,700 contracts. In KC wheat, speculators were net short by 13,018 contracts, with a slight increase of 237 contracts for the week [4] Current Prices - As of the publication date, the following wheat futures prices were noted: - Mar 26 CBOT Wheat at $5.22 1/2, down 7 cents - May 26 CBOT Wheat at $5.33 1/4, down 5 3/4 cents - Mar 26 KCBT Wheat at $5.32, down 8 3/4 cents - May 26 KCBT Wheat at $5.42 3/4, down 7 3/4 cents - Mar 26 MIAX Wheat at $5.71 3/4, down 3 1/4 cents - May 26 MIAX Wheat at $5.83 1/2, down 3 1/4 cents [4]

Wheat Market Overview - The wheat complex experienced a rally across three exchanges, primarily driven by winter wheat contracts, with Chicago SRW futures closing up 12 to 14 cents and March futures increasing by 11.5 cents this week [1] - KC HRW futures rose by 14 to 15 cents, with March futures up 13.5 cents for the week, while MPLS spring wheat lagged behind, gaining 1 to 2 cents but still achieving a 10-cent increase this week [1] - Freezing temperatures and minimal snow cover in parts of HRW regions may be contributing to price premiums ahead of the weekend [1] Export Sales Data - USDA Export Sales data indicated that 618,076 MT of wheat were sold in the week ending January 15, marking a 9-week high and more than tripling the sales from the same week last year [2] - The largest buyer was listed as unknown destinations, purchasing 130,600 MT, followed by Mexico with 115,900 MT and South Korea with 95,500 MT [2] Commitment of Traders Data - CFTC's Commitment of Traders data revealed that managed money added 4,471 contracts to their net short position as of January 20, bringing the net short position for CBT wheat to 110,700 contracts [3] - In KC wheat, speculators were net short by 13,018 contracts, with a slight increase of 237 contracts for the week [3] Closing Prices - Closing prices for various wheat futures on the date of publication included: - Mar 26 CBOT Wheat at $5.29 1/2, up 14 cents - May 26 CBOT Wheat at $5.39, up 12.5 cents - Mar 26 KCBT Wheat at $5.40 3/4, up 15 cents - May 26 KCBT Wheat at $5.50 1/2, up 14.5 cents - Mar 26 MIAX Wheat at $5.75, up 1.25 cents - May 26 MIAX Wheat at $5.87 3/4, up 1.5 cents [3]

Market Overview - Wheat is experiencing gains of 4 to 9 cents as of Monday morning, with Chicago SRW futures showing a slight decrease while KC HRW futures closed higher [1] - Open interest in Chicago SRW futures increased by 3,792 contracts on Friday, while KC HRW futures saw a decrease of 463 contracts [1] USDA Reports - The USDA is set to release the Winter Wheat Seedings report, with analysts predicting a total winter wheat acreage of 32.4 million acres, including 23 million acres for HRW, 5.9 million acres for SRW, and 3.5 million acres for white wheat [2] - US wheat ending stocks are expected to decrease by 5 million bushels to 896 million bushels according to the WASDE report [2] Grain Stocks Report - The upcoming quarterly Grain Stocks report is anticipated to show an average estimate of 1.636 billion bushels of wheat on hand as of December 1, with estimates ranging from 1.59 to 1.696 billion bushels [3] Commitment of Traders Data - Recent Commitment of Traders data indicates that managed money has increased their net short position in CBT wheat futures and options to 107,165 contracts as of January 6 [4] - In contrast, spec traders in KC wheat have reduced their net short position by 2,664 contracts to 15,655 contracts, marking the smallest net short since November 2024 [4] Price Movements - As of the latest data, various wheat futures prices are as follows: - March 26 CBOT Wheat closed at $5.17 1/4, currently up 7 3/4 cents - May 26 CBOT Wheat closed at $5.28 3/4, currently up 7 1/4 cents - March 26 KCBT Wheat closed at $5.30 1/4, currently up 9 cents - May 26 KCBT Wheat closed at $5.43, currently up 7 cents - March 26 MIAX Wheat closed at $5.68 1/2, currently up 4 1/4 cents - May 26 MIAX Wheat closed at $5.78, currently up 4 1/4 cents [4]

Group 1 - The wheat complex is experiencing gains, with Chicago SRW futures up by 2 cents, KC HRW futures trading 4 to 5.5 cents higher, and MPLS spring wheat showing fractional gains [1] - The USDA Export Sales data indicates all wheat export commitments at 20.108 million metric tons (MMT), representing an 18% increase from the same week last year, which is 82% of the USDA estimate [2] - The European Commission reports 11.18 MMT of wheat exports from July 1 to January 4, showing a decline of 0.17 MMT compared to the same period last year [3] Group 2 - Managed money increased their net short positions in CBT wheat futures and options to 94,626 contracts as of December 30, while in KC wheat, spec funds were net short 18,319 contracts, a reduction of 6,430 contracts from the previous week [2] - Current wheat prices include Mar 26 CBOT Wheat at $5.13 3/4, May 26 CBOT Wheat at $5.24 1/4, Mar 26 KCBT Wheat at $5.26 1/4, and May 26 KCBT Wheat at $5.37 3/4, all showing slight increases [3]

Market Overview - The wheat complex is experiencing gains across most contracts, with Chicago SRW futures up by 4 to 5 cents, KC HRW futures up by 5 to 6 cents, and MPLS spring wheat up by 1 to 2 cents [1] Export Data - Export Inspections data indicates that wheat shipments reached 627,443 MT (23.05 million bushels) for the week ending December 18, marking an increase of 28.2% from the previous week and a 46.79% increase from the same week last year [2] - Mexico was the leading destination for wheat, importing 98,816 MT, followed by Japan (73,777 MT), Thailand (69,201 MT), and China (68,559 MT) [2] - Cumulative marketing year shipments have totaled 14.75 MMT (542.1 million bushels), reflecting a year-over-year increase of 22.89% [2] Sales Data - Export Sales data reported 381,532 MT of wheat sold for the week ending December 4, which was below analysts' expectations of 300,000-600,000 MT but still represented a 31.46% increase compared to the same week last year [3] Speculative Trading - A CFTC update revealed that spec traders in CBT wheat futures and options increased their net short position by 2,228 contracts to a total of 46,069 contracts as of December 19 [4] - In KC wheat, managed money reduced their net short position by 900 contracts, bringing it down to 17,011 contracts [4] Price Movements - Current prices for various wheat contracts include: - Mar 26 CBOT Wheat at $5.14, up 4 1/4 cents - May 26 CBOT Wheat at $5.25 1/4, up 4 3/4 cents - Mar 26 KCBT Wheat at $5.20 3/4, up 5 1/2 cents - May 26 KCBT Wheat at $5.33 1/2, up 5 3/4 cents - Mar 26 MGEX Wheat at $5.79 1/2, up 1 1/2 cents - May 26 MGEX Wheat at $5.90 1/4, up 1 3/4 cents [4]

Market Overview - Wheat markets are experiencing losses, with Chicago SRW futures down 8 to 9 cents, KC HRW futures down 6 to 7 cents, and MPLS spring wheat down 6 to 7 cents [1] - Open interest in wheat futures has increased by 13,890 contracts, indicating new selling interest [1] Export Data - The Export Inspections report indicated that 488,025 MT (17.93 million bushels) of wheat were shipped in the week of December 11, which is 23.2% higher than the previous week and 61.38% larger than the same week last year [2] - The Philippines was the largest buyer, importing 113,367 MT, followed by Mexico with 89,044 MT and South Korea with 66,008 MT [2] - The total wheat shipped for the marketing year is now 14.124 MMT (425.42 million bushels), which is 21.9% above the same period last year [2] Sales and Trading Activity - Export Sales data for the week ending November 20 showed 361,715 MT, marking a 5-week low for bookings and slightly below the same week last year [3] - Commitment of Traders data revealed that speculative funds in CBT wheat futures and options increased their net short position by 5,055 contracts to 53,746 contracts, while in KC wheat, the net short position rose by 2,125 contracts to 22,064 contracts [3] Acreage Estimates - The French farm ministry estimates the 2026 soft wheat acreage at 4.56 million hectares (11.25 million acres), an increase of 0.1 million hectares from last year [4] Price Movements - Recent closing prices for wheat futures include: - Mar 26 CBOT Wheat at $5.20 3/4, down 8 1/2 cents - May 26 CBOT Wheat at $5.29, down 8 1/4 cents - Mar 26 KCBT Wheat at $5.12, down 6 cents - May 26 KCBT Wheat at $5.24 1/4, down 6 1/4 cents - Mar 26 MGEX Wheat at $5.69 3/4, down 7 cents - May 26 MGEX Wheat at $5.78 1/4, down 6 1/4 cents [4]