Wheat futures are trading with contracts higher early on Monday. The complex closed Friday with contracts down across the three markets. Chicago SRW futures were down 7 to 8 cents on the day, as May closed the week up ¾ cent. Kansas City HRW contracts were 10 to 12 cents lower on the session, with May showing a 5 ¾ cent gain last week. MPLS spring wheat was 6 to 8 cents in the red, as May ended the week with a 3 ½ cent jump.
No major news on tariffs was announced over the weekend.
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The Friday afternoon Commitment of Traders data from CFTC showed speculators in Chicago wheat adding 19,453 contracts to their net short as of Tuesday to 112,040 contracts. In KC, they were adding 225 contracts to that net short to 45,675 contracts by April 1.
Thursday’s USDA Export Sales report shows the wheat export commitments for the 2024/25 marketing year at 21.433 MMT, which is 14% above last year. That is 94% of the USDA forecast, behind the 101% average sales pace.
May 25 CBOT Wheat closed at $5.29, down 7 cents, currently up 9 1/4 cents
Jul 25 CBOT Wheat closed at $5.42 3/4, down 7 1/4 cents, currently up 9 cents
May 25 KCBT Wheat closed at $5.57 1/2, down 11 1/2 cents, currently up 7 3/4 cents
Jul 25 KCBT Wheat closed at $5.70, down 10 3/4 cents, currently up 6 3/4 cents
May 25 MGEX Wheat closed at $5.84 1/2, down 6 3/4 cents, currently up 4 cents
Jul 25 MGEX Wheat closed at $5.99 3/4, down 7 1/4 cents, currently up 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.
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