Wheat is trading with sharply higher action across the board on Monday morning in response to a White House Fact sheet released over the weekend. The wheat market retreated lower into the Friday close, with the three exchanges posting losses. Chicago SRW futures were down 11 to 22 1/4 cents on the day, with July 16 ¾ cents higher on the week. Open interest was up 2,166 contracts. KC HRW futures posted 12 to 19 1/2 cent losses across the board on Friday, with July still up 12 ¼ cents since last Friday. MPLS spring wheat closed the Friday session with contacts down 7 1/2 to 17 1/4 cents, as July was still up 6 ¾ cents on the week.
On Sunday, the White House released a fact sheet on the US/China talks from last week, in part stating that “China will purchase at least $17 billion per year of U.S. agricultural products in 2026 (prorated), 2027, and 2028, in addition to the soybean purchase commitments that it made in October 2025.”
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Managed money was busy adding back to their net long position in CBT wheat futures and options by 9,120 contracts as of 5/12, mainly via new shorts, taking it to 19,023 contracts. In KC wheat futures and options, spec funds trimmed back just 79 contracts from their net long to 37,790 contracts.
France’s wheat crop was rated at 80% good/excellent as of May 11 according to FranceAgriMer, even with the previous week, with the durum crop at 71%.
Sep 26 CBOT Wheat closed at $6.49 3/4, down 22 cents, currently up 25 1/4 cents
Dec 26 CBOT Wheat closed at $6.69 3/4, down 21 1/4 cents, currently up 25 cents
Sep 26 KCBT Wheat closed at $6.97 1/2, down 18 1/2 cents, currently up 17 1/2 cents
Dec 26 KCBT Wheat closed at $7.11 1/4, down 19 1/4 cents, currently up 18 1/2 cents
Sep 26 MIAX Wheat closed at $7.06 3/4, down 17 1/4 cents, currently up 20 cents
Dec 26 MIAX Wheat closed at $7.25 1/2, down 16 3/4 cents, currently up 21 cents
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.