Wheat Mixed on Friday Morning

Wheat futures are showing mixed trade on Friday morning, with contracts on either side of unch. The wheat complex failed to join in on the rest of the grain bounce on Thursday, heading to some fresh lows. Chicago SRW futures were steady to down 8 ¼ cents across the board led by the front months. KC HRW contracts were 2 to 5 3/4 cents lower on the day. Preliminary open interest was up 4,133 contracts in KC and up12,596 contracts in Chicago. MPLS spring wheat futures closed 1 1/2 to 5 1/4 cents in the red.

The USDA released Export Sales data on Thursday morning with wheat totaling 457,933 MT in the week go 12/12. That was a 4-week high and on the higher end of the trade, which was looking for 225,000 MT to 550,000 MT. The Philippines purchased a total of 83,000, with 80,800 MT sold to Venezuela. 

A South Korean import purchased a total of 86,800 MT of wheat from the US overnight. Strategie Grains estimates the US wheat crop to be 126.6 MMT for 2025/26, which is 12.4 MMT above the year prior.  Russia has officially their export quota for February 15 to June 30 at 10.6 MMT. 

Mar 25 CBOT Wheat  closed at $5.33, down 8 1/4 cents, currently down 1 cent

May 25 CBOT Wheat  closed at $5.43 1/2, down 8 1/4 cents, currently down 3/4 cent

Mar 25 KCBT Wheat  closed at $5.43 1/4, down 5 1/2 cents, currently up 3/4 cent

May 25 KCBT Wheat  closed at $5.51, down 5 3/4 cents, currently up 1 cent

Mar 25 MGEX Wheat  closed at $5.86 3/4, down 5 1/4 cents, currently up 4 cents

May 25 MGEX Wheat  closed at $5.94 1/2, down 4 3/4 cents, currently up 4 1/2 cents