Wheat is trading with contracts showing some strength on Friday morning. The wheat complex posted mixed action on Thursday, as winter wheat contracts gave into weakness. Chicago SRW futures posted losses of 7 to 8 cents on the day. Thursday’s Preliminary open interest was down 4.954 contracts. Kansas City HRW contracts were 2 to 4 cents lower on at the close. Preliminary open interest was up 1,958 contracts on Thursday. Minneapolis spring wheat futures found some strength, with contracts up 2 to 5 cents on Thursday.

USDA reported a total of 4,053 MT sold for 2024/25 in the week of 6/5. New crop business was at 388,919 MT, with just 184,000 MT carried over from unshipped 2024/25 business. Of that 2025/26 sales total, 97,200 MT was sold to Mexico, with 70,000 MT to Indonesia and 60,200 MT to Japan.

Thursday morning’s Crop Production report showed steady wheat data, at 1.921 billion bushels. Winter wheat data was unchanged, at 1.382 bbu, with HRW down 2 mbu to 782 mbu, SRW unchanged, and white winter up 1 mbu to 254 mbu.  In the WASDE, old crop US wheat stocks were steady at 891 mbu, with new crop down 25 mbu to 898 mbu, on an increase to the export figure.  The world numbers for old crop saw stocks down 1.23 MMT to 263.98 MMT, with 2025/26 stocks 2.97 MMT lower to 262.76 MMT. 

The French soft wheat crop was rated at 70% gd/ex per FranceAgriMer estimates, which was a 1 point improvement in the week.

Jul 25 CBOT Wheat  closed at $5.26 1/2, down 7 3/4 cents, currently up 5 cents

Sep 25 CBOT Wheat  closed at $5.41 3/4, down 7 1/4 cents, currently up 4 1/2 cents

Jul 25 KCBT Wheat  closed at $5.22 3/4, down 3 1/2 cents, currently up 3 1/2 cents

Sep 25 KCBT Wheat  closed at $5.37 1/2, down 2 3/4 cents, currently up 2 1/2 cents

Jul 25 MGEX Wheat  closed at $6.20 3/4, up 3 1/2 cents, currently up 2 3/4 cents

Sep 25 MGEX Wheat  closed at $6.31 3/4, up 4 1/2 cents, currently up 3 1/2 cents