The wheat complex saw mixed trade on Friday’s short session. Chicago SRW futures saw mixed action with front months withing 2 cents of unchanged, as December was up 4 cents this week. KC HRW futures were mixed, with December up ½ cent and March 2 ½ cents lower, as the former was up 6 ¾ cents this week. MPLS spring wheat was up 2 ¾ cents in the December contracts, which was up 14 ¼ cents on the week, with other contracts down fractionally lower on the day. There were no deliveries issued against December CBT wheat on first notice day, with 2 against December KC wheat and 34 against the hard red spring wheat contract.
Delayed Export Sales data for the week of October 16 was out this morning, with a total of 341,306 MT of wheat sold. That was below the trade estimates and a 3-week low.
The catch-up will continue on Monday with USDA data for the week of 10/23 expected to show between 350,000 and 650,000 MT of wheat sales.
The FranceAgriMer estimates the French wheat crop at 98% planted as of 11/24. Conditions were down 1 percentage point to 97%. The European Commission estimates the EU production at 134.2 MMT, a 0.8 MMT increase from the previous number. Ending Stocks for 2025/26 were estimated at 11.5 MMT, a 0.7 MMT hike from last month. Argentina’s wheat crop is estimated to total 25.5 MMT according to a Buenos Aires Grains Exchange, a 1.5 MMT increase from the previous estimate.
Dec 25 CBOT Wheat closed at $5.31, up 2 cents,
Mar 26 CBOT Wheat closed at $5.38 1/2, down 2 cents,
Dec 25 KCBT Wheat closed at $5.17 3/4, up 1/2 cent,
Mar 26 KCBT Wheat closed at $5.27 1/2, down 2 1/2 cents,
Dec 25 MGEX Wheat closed at $5.79 1/4, up 2 3/4 cents,
Mar 26 MGEX Wheat closed at $5.78, down 1/2 cent,
