Wheat Prices Decline by Tuesday Afternoon

Wheat Market Update: Tuesday's Midday Trends

Wheat futures are experiencing declines as of midday Tuesday. Chicago SRW contracts have dropped by 2 to 3 cents, while Kansas City HRW futures are down between 6 and 7 ¼ cents. Meanwhile, Minneapolis spring wheat is posting slight losses at this point in the session.

The latest seven-day outlook from NOAA indicates minimal precipitation is expected in the Southern Plains over the coming week, with only light rainfall projected in the SRW regions.

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USDA and Global Wheat Data Highlights

The USDA made no adjustments to the 2025/26 U.S. wheat production estimate. However, feed and residual use was reduced by 20 million bushels to 100 million, and the carryover from 2024/25 increased by 4 million bushels. As a result, U.S. wheat ending stocks rose by 25 million bushels to 926 million, according to the latest WASDE report. On a global scale, wheat stocks were increased by 3.38 million metric tons, reaching 278.25 million metric tons.

The quarterly Grain Stocks report revealed that as of December 1, wheat inventories stood at 1.675 billion bushels, surpassing the average estimate of 1.636 billion bushels and exceeding last year’s figure by 107 million bushels.

IKAR has raised its forecast for Russia’s wheat exports in 2025/26 to 46.5 million metric tons, up from the previous outlook of 44.1 million. Meanwhile, data from the European Commission shows wheat exports from July 1 to January 11 at 11.6 million metric tons, slightly behind last year’s 11.8 million metric tons for the same period.

Current Wheat Futures Prices

• March 26 CBOT Wheat: $5.09 1/4, down 2 cents
• May 26 CBOT Wheat: $5.20 1/4, down 2 1/2 cents
• March 26 KCBT Wheat: $5.19 1/2, down 7 1/4 cents
• May 26 KCBT Wheat: $5.31 1/4, down 6 3/4 cents
• March 26 MIAX Wheat: $5.65, down 3/4 cent
• May 26 MIAX Wheat: $5.76 1/4, unchanged