Wheat is showing mostly higher trade on Thursday morning. The wheat complex posted mixed action on Wednesday, with HRW holding higher. Chicago SRW futures were down 2 to 3 ¼ cents on the day. Open interest was up 6,457 contracts, suggesting new selling interest. KC HRW futures were up 2 to 3 cents at the close. OI was up 4,203 contracts. MPLS spring wheat was down 3 cents in the nearby contracts on Wednesday.
Export Sales data will be this morning for the week ending on November 27, with wheat sales seen at 250,000-600,000 MT.
Backlogged Commitment of Traders data showed managed money slashing 9,905 contracts from their net short position in the week ending on December 2, with the CBT wheat net short at 43,841 contracts of futures and options. In KC wheat, they were trimming the net short by 4,153 contracts to 17,911 contracts.
Expansa estimates the EU soft wheat crop at 128.3 MMT for 2026/27, a drop of 8.5 MMT from last year if realized.
Mar 26 CBOT Wheat closed at $5.06 1/4, down 3 1/4 cents, currently up 1/4 cents
May 26 CBOT Wheat closed at $5.17 1/4, down 2 1/4 cents, currently unch
Mar 26 KCBT Wheat closed at $5.07 3/4, up 2 3/4 cents, currently up 2 3/4 cents
May 26 KCBT Wheat closed at $5.20 1/4, up 2 3/4 cents, currently up 2 3/4 cents
Mar 26 MGEX Wheat closed at $5.62, down 3 cents, currently up 2 3/4 cents
May 26 MGEX Wheat closed at $5.73 1/2, down 3 cents, currently up 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.
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