The wheat complex found some strength on Wednesday. Chicago SRW futures closed out the session with strength as front months were up 5 to 9 cents.  KC HRW futures were up 5 to 8 cents on Wednesday. MPLS spring wheat was 2 to 4 ¼ cents higher on the session. 

Export Sales data from USDA will be out on Thursday morning, with traders looking for between 200,000 and 500,000 MT in old crop wheat bookings in the week of February 5. Sales for new crop are estimated to range 0-75,000 MT.

French soft wheat exports outside the EU are estimated at 7.2 MMT for 2025/26 according to FrancAgriMer data released this morning, down 0.3 MMT from the January number. They estimate the French wheat ending stocks at 3.05 MMT, up 0.25 MMT last month. 

Mar 26 CBOT Wheat  closed at $5.37 1/4, up 9 cents,

May 26 CBOT Wheat  closed at $5.45 1/4, up 7 1/4 cents,

Mar 26 KCBT Wheat  closed at $5.38 1/2, up 8 cents,

May 26 KCBT Wheat  closed at $5.51 3/4, up 7 3/4 cents,

Mar 26 MIAX Wheat  closed at $5.70 1/4, up 2 cents,

May 26 MIAX Wheat  closed at $5.82, up 2 1/2 cents,

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