Wheat is trading with fractional losses in most winter wheat contracts, as spring wheat is a penny higher The wheat complex was lower across the board on Wednesday. Chicago SRW futures were 1 to 2 cents in the red at the close. Preliminary open interest dropped 3,394 contracts on Wednesday. KC HRW futures were 4 to 5 cents lower on the day. OI slipped 698 contracts on Wednesday. MPLS spring wheat was down 2 to 3 cents so far. 

Export Sales data will be released on Thursday morning, as analysts are looking for between 300,000 and 600,000 MT in wheat sales in the week of January 29.

Large world supplies continue to weigh on the market. Russia’s 2025 wheat crop totaled 93 MMT according to the country’s data, including Russian held territories od Ukraine. Area for 2026 is expected to total 83 MMT.

Mar 26 CBOT Wheat  closed at $5.26 3/4, down 2 cents, currently down 3/4 cent

May 26 CBOT Wheat  closed at $5.36 1/4, down 1 1/2 cents, currently down 1 cent

Mar 26 KCBT Wheat  closed at $5.30 1/4, down 4 1/2 cents, currently down 1 cent

May 26 KCBT Wheat  closed at $5.42 3/4, down 4 cents, currently down 1 cent

Mar 26 MIAX Wheat  closed at $5.66, down 2 1/4 cents, currently up 1 cent

May 26 MIAX Wheat  closed at $5.80 1/2, down 2 cents, currently up 1 cent

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