Wheat Rises Ahead of USDA Report Before Friday’s Close

Wheat Market Wraps Up Ahead of USDA Reports

On Friday, wheat markets saw traders adjusting their positions in anticipation of the upcoming USDA reports scheduled for Monday. Chicago SRW wheat futures ended the session with minor losses, though the March contract still gained 10 ¾ cents over the week. KC HRW wheat futures remained steady, with March contracts finishing 15 ¼ cents higher for the week. Meanwhile, MPLS spring wheat slipped by 3 to 4 cents on Friday, resulting in a weekly decline of 3 ¼ cents for the March contract.

Export Commitments and Shipments Update

As of January 1, wheat export commitments—including both shipped and outstanding sales—have reached 20.228 million metric tons, marking an 18% increase compared to the same period last year. This figure represents 83% of the USDA’s annual projection and aligns with the typical pace of sales. Actual wheat exports now total 15.16 million metric tons, up 21% from last year, accounting for 61% of the USDA’s target and surpassing the average shipping rate of 57%.

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Upcoming USDA Grain Stocks Report

The USDA is set to release its Grain Stocks report on Monday. According to a Reuters poll, analysts expect wheat stocks as of December 1 to average 1.636 billion bushels, with estimates ranging from 1.59 to 1.696 billion bushels.

Commitment of Traders Insights

The latest Commitment of Traders data, current through January 6, indicates that managed money increased their net short positions in CBT wheat futures and options to 107,165 contracts. In contrast, speculative traders in KC wheat reduced their net short positions by 2,664 contracts, bringing the total down to 15,655 contracts—the lowest level since November 2024.

Recent Wheat Futures Closing Prices

• March 2026 CBOT Wheat closed at $5.17 1/4, down 3/4 cent.
• May 2026 CBOT Wheat settled at $5.28 3/4, down 1/4 cent.
• March 2026 KCBT Wheat ended at $5.30 1/4, unchanged.
• May 2026 KCBT Wheat finished at $5.43, unchanged.
• March 2026 MIAX Wheat closed at $5.68 1/2, down 3 3/4 cents.
• May 2026 MIAX Wheat settled at $5.78, down 3 1/2 cents.