The wheat complex posted gains across all three exchanges on Thursday. Chicago SRW futures were 13 to 15 1/4 higher at the close. KC HRW futures were 14 to 15 ½ cent in the green in the front months. MPLS spring wheat was 7 to 8 cents higher on the Thursday session. Some short covering was noted with cold temps in parts of Russia’s winter wheat crop.
Precip over the next 7 days is expected to be heavy in the Southeast, with Eastern parts of the Southern Plains seeing some precip.
Export Sales data from USDA showed a total of 487,998 MT sold in the week ending on February 5. That was 30.52% above last week but still 14.32% below the same week last year. The Philippines was the top buyer of 127,000 MT, with 110,800 MT sold to Mexican importers and 71,700 MT to Indonesia. Sales for new crop were pegged at 13,915 MT.
Expana estimates the EU wheat crop at 128.3 MMT for 2026/27, a 0.5 MMT reduction from last month. Exports for 2025/26 were cut by 1.2 MMT to 27.6 MMT.
Mar 26 CBOT Wheat closed at $5.52 1/2, up 15 1/4 cents,
May 26 CBOT Wheat closed at $5.58 1/2, up 13 1/4 cents,
Mar 26 KCBT Wheat closed at $5.54, up 15 1/2 cents,
May 26 KCBT Wheat closed at $5.66, up 14 1/4 cents,
Mar 26 MIAX Wheat closed at $5.78 1/2, up 7 1/4 cents,
May 26 MIAX Wheat closed at $5.90 3/4, up 7 3/4 cents,
