The wheat complex is trading with losses to start the week. Chicago SRW futures are trading with 5 to 7 cent Monday losses. KC HRW futures are 7 to 9 cents in the front months at midday. MPLS spring wheat is down 3 to 4 cents so far on the day. Monday morning’s Export Inspections report showed 351,001 MT (12.9 mbu) of wheat shipped in the week of 1/22. That was 11.76% below the week prior and 27.56% shy of the same week last year. South Korea was the largest destination of 119,036 MT, 73,230MT shipped to ...

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]

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]

Market Performance - The wheat complex is experiencing gains across three markets ahead of the holiday, with Chicago SRW futures trading 4 to 5 cents higher, KC HRW futures up 3 to 7 cents, and MPLS spring wheat futures increasing by 4 to 5 cents, with December futures up 16 cents [1] - The markets will be closed on Thursday for Thanksgiving, with a hard open at 8:30 CST on Friday and an early close [1] Commitment of Traders Data - Managed money added 14,387 contracts to their net short position in CBT wheat futures and options, bringing the total to 111,743 contracts for the week of October 14 [2] - In KC wheat, managed money added 4,170 contracts to their net short position, totaling 67,704 contracts [2] Import Activity - A South Korean importer purchased a total of 91,300 MT of wheat from the US and 40,000 MT from Canada in their tender [3] Futures Prices - As of the date of publication, the following wheat futures prices were noted: - Dec 25 CBOT Wheat at $5.32 1/4, up 5 cents - Mar 26 CBOT Wheat at $5.43 1/2, up 4 1/4 cents - Dec 25 KCBT Wheat at $5.19 3/4, up 6 1/2 cents - Mar 26 KCBT Wheat at $5.31 3/4, up 3 1/2 cents - Dec 25 MGEX Wheat at $5.96, up 16 cents - Mar 26 MGEX Wheat at $5.85 1/4, up 4 1/2 cents [3]

Group 1 - Wheat prices are experiencing a decline across winter wheat contracts, while spring wheat remains higher [1] - The wheat complex saw losses on Friday, with CBT soft red wheat futures down by 1 to 2 cents, and KC HRW futures down by 2 to 3 cents, resulting in a weekly loss of 7.5 cents for December [1] - The US dollar index increased by $0.334 to $97.305, adding pressure to commodity prices [1] Group 2 - The 7-day weather forecast predicts 1-3 inches of rain in the eastern Central Plain, extending to the Appalachian range [2] - The Commitment of Traders report indicated that spec funds reduced their net short position in Chicago wheat futures by 6,569 contracts, totaling 85,825 contracts, and in Kansas City wheat futures by 1,491 contracts, totaling 51,534 contracts as of September 16 [2] Group 3 - The weekly Export Sales report showed accumulated wheat sales at 13.156 million metric tons (MMT), which is 20% larger than last year and a 5-year high for that week, representing 54% of the USDA wheat export projection [3] - Closing prices for various wheat futures on December 25 showed declines, with CBOT Wheat down 1.75 cents to $5.22 1/2 and KCBT Wheat down 2.75 cents to $5.07 1/4 [3]

Market Performance - The wheat complex experienced losses across all three markets, with CBT soft red wheat futures down 1 to 2 cents, KC HRW futures down 2 to 3 cents, and MPLS spring wheat futures down 3 to 4 ¼ cents [1] - The US dollar index increased by $0.334 to 97.305, adding pressure to commodity prices [1] Weather Forecast - The 7-day forecast predicts 1-3 inches of rain in the eastern portions of the Central Plain, extending to the Appalachian range [2] Trader Positions - The Commitment of Traders report indicated that spec funds in Chicago wheat futures and options reduced their net short position by 6,569 contracts, totaling 85,825 contracts [2] - In Kansas City wheat futures and options, the net short position was trimmed by 1,491 contracts, bringing the total to 51,534 contracts as of September 16 [2] Export Sales - The weekly Export Sales report showed accumulated sales at 13.156 million metric tons (MMT), which is 20% larger than last year and a 5-year high for this week [3] - This figure represents 54% of the USDA wheat export projection and is 1 point ahead of the 5-year average sale pace [3] Closing Prices - Closing prices for various wheat futures on December 25 and March 26 showed declines, with CBOT Wheat at $5.22 1/2 down 1 3/4 cents, KCBT Wheat at $5.07 1/4 down 2 3/4 cents, and MGEX Wheat at $5.68 1/2 down 4 1/4 cents [3]

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]