The wheat complex bulls gathered up some steam on Thursday, with the three exchanges higher at the close. CBT soft red wheat futures closed with 8 to 10 cent gains on Thursday. KC HRW futures posted Thursday gains of 10 to 12 cents across most contracts on the day. MPLS spring wheat futures pushed higher on Thursday, with contracts up 8 to 10 ¼ cents at the close. General support from in the commodities was noted, with a rally in the crude oil market.
USDA did not release their weekly Export Sales report on Thursday due to the continued government shutdown. Still, traders are looking for between 350,000 and 650,000 MT of wheat was sold in the week ending on 10/16.
International Grains Council saw 2025/26 world wheat production up 8 MMT to 827 MMT, with trade up 1 MMT, as was consumption. Stocks were raised by 5 MMT to 275 MMT, with the old crop down 3 MMT.
Dec 25 CBOT Wheat closed at $5.13, up 9 1/4 cents,
Mar 26 CBOT Wheat closed at $5.28 1/4, up 8 3/4 cents,
Dec 25 KCBT Wheat closed at $5.00, up 11 1/2 cents,
Mar 26 KCBT Wheat closed at $5.17 3/4, up 10 1/2 cents,
Dec 25 MGEX Wheat closed at $5.58, up 10 1/4 cents,
Mar 26 MGEX Wheat closed at $5.76, up 8 1/4 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.
