The wheat complex is showing slight losses across the three markets on Monday. Chicago SRW futures are 1 to 2 1/2 cents lower at midday. KC HRW futures are down 3 to 4 cents in most contracts. MPLS spring wheat is steady to 3 cents lower as we trade through midday.
USDA’s FGIS tallied wheat export shipments at 580,130 MT (21.32 mbu) during the week ending on February 5. That was 75.52% above the week prior and 1.72% larger than the same week last year. The Philippines was the top destination of 179,957 MT, with 119,479 MT headed to Bangladesh and 103,146 MT to Mexico. Marketing year exports for 2025/26 are 17.327 MMT (636.6 mbu) since June 1, which is now 18.36% above the same period last year.
USDA will release updated WASDE data on Tuesday, with a Bloomberg survey showing analysts at an average of 918 mbu for US wheat stocks, down 8 mbu from January if realized. World wheat stocks are estimated to total 278.6 MMT, which would be 0.3 MMT higher than in January.
CFTC data showed a total of 12,988 contracts cut from the spec fund CBT wheat net short position in the week ending on 2/3, with the net short at 81,755 contracts. In KC wheat, managed money showed another 1,485 contracts trimmed from the net short position at 8,844 contracts.
Mar 26 CBOT Wheat is at $5.27 1/4, down 2 1/2 cents,
May 26 CBOT Wheat is at $5.37 1/4, down 1 3/4 cents,
Mar 26 KCBT Wheat is at $5.27 3/4, down 3 1/2 cents,
May 26 KCBT Wheat is at $5.40 1/2, down 3 cents,
Mar 26 MIAX Wheat is at $5.68 3/4, down 1 1/4 cents,
May 26 MIAX Wheat is at $5.80, down 2 1/2 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.
