Wheat Falling on Friday Morning

Wheat is facing pressure on Friday morning, with pressure coming from prospects for easing Black Sea conflicts. The wheat complex posted gains across the three markets on Thursday. Chicago SRW contracts were up fractionally in the front months and down fractionally to 1 1/2 cents at the close. Open interest was up 7,061 contracts on Thursday. KC HRW futures were fractionally to 3 ½ cents higher on the session. OI was down 5,361 contracts, suggesting some modest short covering. MPLS spring wheat was 3 ¼ to 11 cents in the green on the day.

Overnight, an Illinois based company, Hang Tung Resources, signed deals with Chinese buyers worth $600 million of wheat and sorghum.

The weekly Export Sales report from Thursday morning pegged 2026/27 wheat sales at 538,028 MT. That was down from last week’s marketing year high, but was still the second largest total for this MY and 6.45% above the same week last year. The Philippines was the top buer of 119,000 MT, with 100,000 MT sold to South Korea. Sales for 2026/27 were tallied at 19,200 MT, with 16,000 MT sold to Peru.

USDA’s monthly WASDE report will be released on Tuesday, with Bloomberg survey of analysts looking for US wheat stocks to be raised by 4 mbu to 744 mbu.

The French wheat crop is estimated at 84% planted as of November 2 according to FranceAgriMer, ahead of the 77% pace from last year.

Dec 26 CBOT Wheat  closed at $5.99 1/4, up 3/4 cent, currently down 11 1/4 cents

Mar 27 CBOT Wheat  closed at $6.09 3/4, up 1/4 cent, currently down 11 cents

Dec 26 KCBT Wheat  closed at $6.35 3/4, up 3 cents, currently down 11 1/4 cents

Mar 27 KCBT Wheat  closed at $6.43, up 3 1/4 cents, currently down 11 1/4 cents

Dec 26 MIAX Wheat  closed at $6.20, up 3 1/4 cents, currently down 7 1/4 cents

Mar 27 MIAX Wheat  closed at $6.38 1/2, up 4 1/2 cents, currently down 6 1/2 cents

On the date of publication, Austin Schroeder did not directly have a position 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.