Wheat Managing to Post Overnight Gains Heading into Friday

Futures are posting gains across the three markets as we begin the Friday session. The wheat complex posted losses across the board on Thursday. Chicago SRW futures were down 8 ½ to 10 1/4 cents on the day. KC HRW saw losses of 11 to 14 cents across the board. MPLS spring wheat posted 3 to 8 3/4 cent losses.

Thursday morning’s Export Sales report showed just 246,327 MT in all wheat sales during the week of September 12. That was below the trade’s expectations of 300,000 and 650,000 MT for 2024/25 wheat sales and the lowest since the first week of July. The largest buyer was Mexico of 59,600 MT, as the Philippines bought 57,600 MT. Sales for 2025/26 were in the expected range of 0 to 50,000 MT in that week at 11,500 MT.

Japan purchased a total of 123,012 MT of wheat from Australia, Canada, and the US on Thursday, with 66,397 MT US specific. 

The monthly International Grains Council pegged their latest wheat production estimated at 798 MMT, down 1 MMT from last month. Trade was up 2 MMT to 198 MMT, as the 2024/25 stocks number was up 1 MMT to 267 MMT. 

Ukraine’s ag ministry pegs the 2024/25 winter wheat planted area dripping 4.5% from their previous number to 11.07 million acres. 

Dec 24 CBOT Wheat  closed at $5.65 1/2, down 10 1/4 cents, currently up 6 1/4 cents

Mar 25 CBOT Wheat  closed at $5.85, down 10 1/4 cents, currently up 5 3/4 cents

Dec 24 KCBT Wheat  closed at $5.64 1/2, down 14 cents, currently up 4 cents

Mar 25 KCBT Wheat  closed at $5.78 1/4, down 13 1/2 cents, currently up 4 1/4 cents

Dec 24 MGEX Wheat  closed at $6.07 3/4, down 8 3/4 cents, currently up 1 1/2 cents

Mar 25 MGEX Wheat  closed at $6.29 3/4, down 8 1/4 cents, currently up 1 3/4 cents