Winter Wheat Slipping as Spring Wheat Pop Continues

Austin Schroeder Barchart Fri May 30, 7:32AM CDT
A ghost in a wheat field_ Image by Masson via Shutterstock_

Wheat is feeling weaker in the winter wheat contracts early on Friday, with spring wheat showing gains. The wheat complex saw a stronger trade on Thursday, as the spring wheat market lead the charge. Chicago SRW futures were up 3 to 4 cents on the day. Preliminary open interest was down 1,456 contracts. Kansas City HRW contracts saw 6 to 7 cent gains. Thursday’s Preliminary open interest was up 1,355 contracts. Minneapolis spring wheat futures were 12 to 14 cents in green. 

Export Sales data is pushed back to this morning due to the Monday holiday. Traders are looking for net reductions of 200,000 MT to sales of 100,000 for 2024/25, with new crop at 300,000 to 800,000 MT.

SovEcon estimates the Russian wheat exports for 2025/26 will total 40.8 MMT, a 1.1 MMT increase from their previous number. Private firm ASAP Agri estimates the Ukraine 2025/26 exports at 15 MMT, which is below 16.2 MMT from 2024/25.

The FranceAgriMer estimates the French soft wheat crop at 70% good/excellent, which is below the 71% from the week prior. 

Jul 25 CBOT Wheat  closed at $5.34, up 3 3/4 cents, currently down 1 cent

Sep 25 CBOT Wheat  closed at $5.48 3/4, up 3 1/4 cents, currently down 1 cent

Jul 25 KCBT Wheat  closed at $5.31 3/4, up 6 1/2 cents, currently down 3/4 cent

Sep 25 KCBT Wheat  closed at $5.45 3/4, up 6 1/4 cents, currently down 3/4 cent

Jul 25 MGEX Wheat  closed at $6.15 1/2, up 12 1/4 cents, currently up 3 1/2 cents

Sep 25 MGEX Wheat  closed at $6.28, up 13 1/2 cents, currently up 2 1/4 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.