Wheat Reverting Lower as USDA Hikes World Production

The wheat complicated is falling again into losses on Friday. CBT tender crimson wheat futures are down 9 to 11 cents because the market trades on Friday. KC HRW futures are 10 to 12 cents within the crimson at noon. MPLS spring wheat futures are down 5 to 7 cents to date on Friday. 

USDA confirmed US ending shares for 2025/26 one other 57 mbu larger to 901 mbu, That primarily got here as manufacturing was elevated by 58 mbu to 1.985 bbu as we discovered within the Small Grains Abstract on September 30.  The demand aspect of the steadiness sheet was left unchanged.

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World ending shares have been 7.37 MMT larger, taking the entire to 271.43 MMT. That got here as world manufacturing was up 12.69 MMT to 828.89 MMT, with Argentina (+2.5 MMT), Australia (+1.5 MMT), Canada (+1 MMT), Russia (1.5 MMT), the US all seeing a rise.  

Every day Export Gross sales bulletins from USDA have been launched this morning from the backlog all through the shutdown, as 110,000 MT of white wheat was reported as bought to Bangladesh on October 2.

The NOAA 7-day QPF reveals precip anticipated to complete 1 to 4 inches in components of the Southern Plains and components of SRW nation within the center components of subsequent week.

FranceAgriMer estimates that 89% of the nation’s tender wheat crop was 89% planted, with 98% of the crop in good/wonderful circumstances. The durum crop was estimated at 44%, up from 23% final week.

Dec 25 CBOT Wheat  is at $5.26 1/2, down 9 1/4 cents,

Mar 26 CBOT Wheat  is at $5.41 3/4, down 10 1/2 cents,

Dec 25 KCBT Wheat  is at $5.15, down 10 3/4 cents,

Mar 26 KCBT Wheat  is at $5.31 1/4, down 11 3/4 cents,

Dec 25 MGEX Wheat  is at $5.64 1/4, down 5 1/2 cents,

On the date of publication,

Austin Schroeder

didn’t have (both instantly or not directly) positions in any of the securities talked about on this article. All data and information on this article is solely for informational functions.

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