The wheat complex posted weakness across the three markets on Tuesday. Chicago SRW futures posted 7 to 8 cent losses. KC HRW futures saw 3 to 4 1/4 cent losses on the day. MPLS spring wheat was down 2 to 3 cents in the front months on Tuesday.
USDA’s FGIS tallied wheat export shipments at 392,661 MT (14.43 mbu) during the week ending on January 15. That was 23.48% larger than the week prior and 49.97% above the same week last year. Mexico was the top destination of 110,660 MT, with 82,764 MT headed to Japan and 54,455 MT to Taiwan. Marketing year exports for 2025/26 are 15.975 MMT (586.96 mbu) since June 1, which is now 19.84% larger than the same period last year.
A widespread precip even from the Southern Plains to the East Coast is looking to add some moisture back in the next week according to NOAA’s 7-day QPF.
Saudi Arabia purchased a total of 907,000 MT of wheat in a tender on Monday. Algeria also purchased an estimates 600,000 MT of wheat in a tender on Monday. European commission data showed 11.8 MMT of wheat exports from July 1 to January 15, which is behind the 12 MMT from the same period last year.
Mar 26 CBOT Wheat closed at $5.10 1/4, down 7 3/4 cents,
May 26 CBOT Wheat closed at $5.21 3/4, down 7 cents,
Mar 26 KCBT Wheat closed at $5.23, down 4 1/4 cents,
May 26 KCBT Wheat closed at $5.34 1/2, down 3 3/4 cents,
Mar 26 MIAX Wheat closed at $5.62, down 3 cents,
May 26 MIAX Wheat closed at $5.74 1/2, down 3 cents,
