Wheat Posts Thursday Rally

The wheat complex posted gains across the three major markets on Thursday. Chicago SRW futures closed 7 to 9 cents higher in the front months, while KC HRW futures were up 7 to 9 cents on the day. MPLS spring wheat also saw gains, closing 4 to 6 cents higher.

Export sales data released this morning showed that 373,877 metric tons of wheat were sold in the week of January 29. This figure is down 33.02% from the previous week and 14.81% below the same week last year. The largest buyer was the Philippines, with 89,200 MT sold, followed by Taiwan and Mexico, which purchased 67,900 MT. Additionally, another 41,000 MT was sold for the 2026/27 marketing year.

Large world supplies continue to weigh on the market. According to Russian data, the country’s 2025 wheat crop totaled 93 million metric tons (MMT), including Russian-held territories of Ukraine. However, the forecast for 2026 expects production to total 83 MMT.

Wheat futures closed as follows on March 26:

– CBOT Wheat Mar 26: $5.35 1/4, up 8 1/2 cents
– CBOT Wheat May 26: $5.44, up 7 3/4 cents
– KCBT Wheat Mar 26: $5.38 1/2, up 8 1/4 cents
– KCBT Wheat May 26: $5.50 1/2, up 7 3/4 cents
– MIAX Wheat Mar 26: $5.72 1/2, up 5 1/2 cents
– MIAX Wheat May 26: $5.84 1/4, up 4 3/4 cents

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**Disclosure:** On the date of publication, Austin Schroeder did not hold any positions, either directly or indirectly, in the securities mentioned in this article. All information and data presented are for informational purposes only. For more details, please view the [Barchart Disclosure Policy](https://www.barchart.com/disclosure).

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*The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.*
https://www.nasdaq.com/articles/wheat-posts-thursday-rally

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