Winter Posting Double Digit Gains on Monday

Wheat is in rally mode on Monday morning, with contracts up double digits in the winer wheat months. The wheat complex is mixed at midday, with the winter wheats showing the strength. CBT soft red wheat was fractionally mixed, with nearbys lower and deferreds higher. December was 8 ¾ cents higher on the week. Friday’s preliminary open interest was down 11,353 contracts. KC HRW futures saw Friday gains of 1 to 1 1/2 cents, as December posted a dime gain since last Friday. OI dropped 5,980 contracts on Friday. MPLS spring wheat futures were down 1 to 2 ½ cents at the close, as December still saw an 8 ½ cent gain last week.

US and Chinese negotiators had constructive discussions over the weekend in Malaysia, come out with a framework for President Trump and China’s President Xi to discuss this Thursday. Nothing specific on wheat was mentioned, but the two sides coming together is seen as friendly. Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.

The French wheat crop is seen at 57% planted as of October 20, a 30 point move on the week according to the FranceAgriMer. Turkey’s wheat production estimate from the country’s data for 2025 is at 17.9 MMT, a drop of 1.7 MMT from their previous estimate. Buenos Aires Grain Exchange estimates the Argentina wheat harvest at 5% complete

Dec 25 CBOT Wheat closed at $5.12 1/2, down 1/2 cent, currently up 14 cents

Mar 26 CBOT Wheat closed at $5.28, down 1/4 cent, currently up 13 1/4 cents

Dec 25 KCBT Wheat closed at $5.01 1/2, up 1 1/2 cents, currently up 12 cents

Mar 26 KCBT Wheat closed at $5.18 1/4, up 1/2 cent, currently up 11 1/4 cents

Dec 25 MGEX Wheat closed at $5.57, down 1 cent, currently up 8 cents

Mar 26 MGEX Wheat closed at $5.75 3/4, down 1 1/4 cents, currently up 9 3/4 cents On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

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