The wheat complex is mixed, with most winter wheat contracts lower. Chicago SRW futures are up 3 ¼ cents in December, with March down 2 cents. KC HRW futures are 2 ¾ cents higher in December, with March fractionally lower. MPLS spring wheat is up 2 to 4 cents. 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 is at $5.32 1/4, up 3 1/4 cents,
Mar 26 CBOT Wheat is at $5.38 1/2, down 2 cents,
Dec 25 KCBT Wheat is at $5.20, up 2 3/4 cents,
Mar 26 KCBT Wheat is at $5.29 1/2, down 1/2 cent,
Dec 25 MGEX Wheat is at $5.79 1/4, up 2 3/4 cents,
Mar 26 MGEX Wheat is at $5.81 3/4, up 3 1/4 cents,
