Wheat Retreats to Levels Seen at Tuesday’s Close

Wheat Market Update: Tuesday's Performance and Key Insights

Wheat prices were unable to maintain their upward momentum by the end of Tuesday's trading session. Chicago SRW wheat futures finished the day 2 to 3 cents lower. Kansas City HRW wheat futures ended mostly unchanged to slightly higher, while Minneapolis spring wheat contracts closed with a 4-cent decline.

Weather Outlook

The latest seven-day forecast from NOAA predicts that most soft red winter wheat regions will receive between 1 and 2 inches of rainfall. However, the Southern Plains are expected to see minimal precipitation, except for the eastern areas of Kansas.

Export and Market Data

According to USDA Export Sales figures, total wheat export commitments have reached 20.108 million metric tons, marking an 18% increase compared to the same period last year. This represents 82% of the USDA's annual projection, just slightly trailing the typical 82% pace for this time of year.

Data from the European Commission indicates that wheat exports from July 1 to January 4 totaled 11.18 million metric tons, which is 0.17 million metric tons less than the previous year's figure for the same period.

Wheat Futures Closing Prices (March and May 2026)

• CBOT March 2026: $5.10 1/2, down 2 cents
• CBOT May 2026: $5.21 1/4, down 2 1/4 cents
• KCBT March 2026: $5.21 1/2, up 3/4 cent
• KCBT May 2026: $5.33 1/4, unchanged
• MIAX March 2026: $5.67 1/4, down 4 cents
• MIAX May 2026: $5.78 3/4, down 4 cents