Wheat Falls Lower on Tuesday

The wheat complex continued losses into the Tuesday close. Chicago SRW futures were 9 to 11 1/4 cents lower across most contracts. KC HRW futures were 6 to 7 cents in the red at the close. MPLS spring wheat was down 2 to 3 3/4 cents across the front months. Large world supplies among major exporters is looming over the market. 

The forecast for the next week calls 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.

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  closed at $5.09 1/2, down 11 1/4 cents,

May 26 CBOT Wheat  closed at $5.19 1/2, down 9 1/2 cents,

Mar 26 KCBT Wheat  closed at $5.05, down 7 cents,

May 26 KCBT Wheat  closed at $5.17 1/2, down 6 3/4 cents,

Mar 26 MGEX Wheat  closed at $5.65, down 3 3/4 cents,

May 26 MGEX Wheat  closed at $5.76 1/2, down 2 3/4 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.