The wheat complex posted weakness across the three markets on Tuesday. Chicago SRW futures posted 7 to 8 cent losses. KC HRW futures saw 3 to 4 1/4 cent losses on the day. MPLS spring wheat was down 2 to 3 cents in the front months on Tuesday.
USDA’s FGIS tallied wheat export shipments at 392,661 MT (14.43 mbu) during the week ending on January 15. That was 23.48% larger than the week prior and 49.97% above the same week last year. Mexico was the top destination of 110,660 MT, with 82,764 MT headed to Japan and 54,455 MT to Taiwan. Marketing year exports for 2025/26 are 15.975 MMT (586.96 mbu) since June 1, which is now 19.84% larger than the same period last year.
A widespread precip even from the Southern Plains to the East Coast is looking to add some moisture back in the next week according to NOAA’s 7-day QPF.
Saudi Arabia purchased a total of 907,000 MT of wheat in a tender on Monday. Algeria also purchased an estimates 600,000 MT of wheat in a tender on Monday. European commission data showed 11.8 MMT of wheat exports from July 1 to January 15, which is behind the 12 MMT from the same period last year.
Mar 26 CBOT Wheat closed at $5.10 1/4, down 7 3/4 cents,
May 26 CBOT Wheat closed at $5.21 3/4, down 7 cents,
Mar 26 KCBT Wheat closed at $5.23, down 4 1/4 cents,
May 26 KCBT Wheat closed at $5.34 1/2, down 3 3/4 cents,
Mar 26 MIAX Wheat closed at $5.62, down 3 cents,
May 26 MIAX Wheat closed at $5.74 1/2, down 3 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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