The wheat market closed Friday mixed across the three exchanges, as the winter wheats were the strongest. Chicago SRW futures were up 3 to 5 cents to close the day, as March was still down a dime on the week. KC HRW futures were 1 to 2 cents higher as well on the session, with March slipping 12 cents since last Friday. MPLS spring wheat was 1 to 2 cents in the red, with March losing just 1 ¾ cents on the week. March options expired today.

CFTC data from this afternoon indicated managed money continuing to cover shorts in the Chicago wheat during the week that ended on 2/18, reducing the net short by 21,232 contracts to 61,577 contracts. In KC wheat, they timed back 8,158 contracts from their net short to 22,090 contracts by Tuesday. 

The Friday morning Export Sales report totaled all wheat bookings at 532,674 MT during the week ending on 2/13. That was down 6.48% from the week prior, but still 128.11% larger than the same week in 2024. Mexico was the buyer of 147,300 MT, with Japan in for 69,900 MT. Export commitments are now 86% of USDA’s projection at 19.874 MMT, compared to the average sale pace of 94%. New crop sales bested the 0-50,000 MT expectations at 98,500 MT, a MY high.  

US wheat planted acres are estimated to total 46.7 million acres in next week’s USDA Outlook Forum. That is according to a Bloomberg survey of analysts, with a 45.5 to 47.9 million acre range.

Mar 25 CBOT Wheat  closed at $5.90, up 4 1/2 cents,

May 25 CBOT Wheat  closed at $6.04, up 3 3/4 cents,

Mar 25 KCBT Wheat  closed at $6.09 1/4, up 1 3/4 cents,

May 25 KCBT Wheat  closed at $6.21 3/4, up 1 3/4 cents,

Mar 25 MGEX Wheat  closed at $6.31 3/4, down 1 cent,

May 25 MGEX Wheat  closed at $6.46 1/2, down 1 1/4 cents,