The wheat complex is continuing the losses at midday on Tuesday. Chicago SRW futures are 9 to 11 3/4 cents lower across most contracts. KC HRW futures are 6 to 7 cents in the red at midday. MPLS spring wheat is down 2 to 3 cents across the front months.
The forecast for the next week call for a dry pattern in much of the Southern Plains. The 7-day QPF from NOAA shows SRW country with as much as an inch.
Commitment of Traders data showed spec funds in CBT wheat futures and options adding back 5,055 contracts to their net short as of 11/25, taking it to 53,746 contracts. In KC wheat, they increased their net short by 2,125 contracts to 22,064 contracts.
The French farm ministry estimates the country 2026 soft wheat acreage at 4.56 million hectares (11.25 million acres), up 0.1 million ha from last year (0.24 million acres). EU soft wheat exports totaled 10.5 MMT since July 1 to December 14, now lagging last year by 0.3 MMT.
Mar 26 CBOT Wheat is at $5.09, down 11 3/4 cents,
May 26 CBOT Wheat is at $5.19 1/2, down 9 1/2 cents,
Mar 26 KCBT Wheat is at $5.05, down 7 cents,
May 26 KCBT Wheat is at $5.17 3/4, down 6 1/2 cents,
Mar 26 MGEX Wheat is at $5.65 3/4, down 3 cents,
May 26 MGEX Wheat is at $5.76, down 2 1/4 cents,
