Wheat Falls Lower on Thursday
Punjab government will maintain 2.5 million tonnes of strategic wheat reserves through a public-private partnership to ensure food security. Wheat will be procured directly from farmers at import parity price, with digital payments, private aggregators handling financing, and profits capped to ensure transparency and efficiency.
The wheat complex was under pressure across the three exchanges at the close. Chicago SRW futures saw weakness on Thursday, with contracts down 2 to 3 cents. KC HRW futures were 5 to 5 cents in the red on Thursday. MPLS spring wheat was down 4 to 5 cents across the front months at the close.
Export Sales from this morning showed wheat bookings at just 156,255 MT in the week of 1/8. The top buyer was unknown destinations at 72,000 MT, with 61,500 MT sold to the Philippines. Sales for 2026/27 were net reductions of 26 MT.
Saudi Arabia issued a tender to buy 595,000 MT of wheat, with a Friday deadline. A South Korean importer purchased 50,000 MT of US wheat in an overnight tender.
Expana increased their EU wheat production forecast by 0.3 MMT to 128.6 MMT, but also trimmed their export projection by 1.2 MMT to 28.8 MMT.
Mar 26 CBOT Wheat closed at $5.10 1/2, down 2 cents,
May 26 CBOT Wheat closed at $5.21 1/2, down 2 1/4 cents,
Mar 26 KCBT Wheat closed at $5.17 1/4, down 5 cents,
May 26 KCBT Wheat closed at $5.28 3/4, down 4 3/4 cents,
Mar 26 MIAX Wheat closed at $5.63 1/2, down 4 1/2 cents,
May 26 MIAX Wheat closed at $5.74, down 4 1/4 cents .
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Source : BarChart
