Wheat Shows Early Recovery on Friday

Wheat Market Update: Early Friday Gains Lead by Winter Varieties

Wheat prices are showing positive movement in early Friday trading, with winter wheat contracts taking the lead. Despite this uptick, the wheat sector ended the previous session under pressure across all three major exchanges. On Thursday, Chicago SRW futures slipped by 2 to 3 cents, accompanied by a decrease of 349 contracts in open interest. Kansas City HRW futures also declined by 5 cents, though open interest increased by 1,299 contracts. Meanwhile, Minneapolis spring wheat futures finished 4 to 5 cents lower for the front-month contracts.

Markets will be closed on Monday in observance of Martin Luther King Jr. Day, with trading set to resume on Monday evening.

Export and Sales Highlights

According to Thursday's export sales report, wheat bookings for the week ending January 8 totaled 156,255 metric tons. The largest share, 72,000 MT, was purchased by unidentified destinations, while the Philippines secured 61,500 MT. For the 2026/27 marketing year, net sales decreased by 26 MT.

Additionally, a South Korean buyer acquired 92,300 MT of U.S. wheat in a tender held on Thursday.

Production and Export Forecasts

Expana has raised its projection for EU wheat output by 0.3 million metric tons, now estimating production at 128.6 MMT. However, their export outlook was reduced by 1.2 MMT, bringing the new forecast to 28.8 MMT.

Recent Wheat Futures Performance

• March 2026 CBOT Wheat: Closed at $5.10 1/2, down 2 cents; currently up 7 cents.
• May 2026 CBOT Wheat: Ended at $5.21 1/2, down 2 1/4 cents; now up 6 1/2 cents.
• March 2026 KCBT Wheat: Settled at $5.17 1/4, down 5 cents; currently up 7 3/4 cents.
• May 2026 KCBT Wheat: Finished at $5.28 3/4, down 4 3/4 cents; now up 7 1/2 cents.
• March 2026 MIAX Wheat: Closed at $5.63 1/2, down 4 1/2 cents; currently up 2 cents.
• May 2026 MIAX Wheat: Ended at $5.74, down 4 1/4 cents; now up 2 1/2 cents.