The wheat complex closed the Tuesday trade mixed, as spring wheat was stronger and KC leading the charge to the downside. Chicago SRW futures posted fractional to penny losses in the front months to close out the day. KC HRW futures closed the Tuesday session with contracts 6 to 7 ¼ cents in the red. MPLS spring wheat was fractionally to 2 cent higher in the front months on the day.

The 7-day forecast from NOAA shows very little precip in the Southern Plains over the next week, with light totals in the SRW area.

Russia’s wheat export projection for 2025/26 is estimated at 46.5 MMT by IKAR, up from their previous estimate of 44.1 MMT. European Commission data showed wheat exports at 11.6 MMT from July 1 to January 11, lagging the 11.8 MMT from last year.

Mar 26 CBOT Wheat  closed at $5.10 1/2, down 3/4 cent,

May 26 CBOT Wheat  closed at $5.21 3/4, down 1 cent,

Mar 26 KCBT Wheat  closed at $5.19 1/2, down 7 1/4 cents,

May 26 KCBT Wheat  closed at $5.31 1/4, down 6 3/4 cents,

Mar 26 MIAX Wheat  closed at $5.67 1/2, up 3/4 cent,

May 26 MIAX Wheat  closed at $5.78 1/2, up 1 1/4 cents,