Wheat is trading with mixed action, as the hard wheats are feeling some pressure  Chicago SRW futures are up factionally to 4 3/4 cents. KC HRW contracts are mixed, with December ¼ cent high and March down 1 ¼ cents. MPLS spring wheat is down 1 ¼ in the March contract. 

The weekly Export Sales report showed 366,804 MT in wheat sales for the week of 11/21, in the middle of the 200,000 and 600,000 MT estimates. That was a 9-week low and down 33.26% from the week prior. The largest buyer was unknown destinations at 95,000 MT, with 59,100 MT sold to Taiwan.

The FranceAgriMer shows the country’s soft wheat crop at 93% planted, above the 90% from the week prior, with 87% listed as good/excellent, down 1% from last week. The European Commission showed the EU 2024/25 wheat crop at 112.3 MMT, down 0.3 MMT from the previous number.  

Russia has set an export quota on wheat for 2/15 through 6/30 next spring at 11 MMT. That is down from the 29 MMT quota in the same period for 2024, though that included corn and barley (which combined to total 12.8 MMT in full year shipments for 2023/24 according to USDA data).

Dec 24 CBOT Wheat  is at $5.42 1/2, up 4 3/4 cents,

Mar 25 CBOT Wheat  is at $5.48 3/4, up 1/4 cent,

Dec 24 KCBT Wheat  is at $5.26 1/2, up 1/4 cent,

Mar 25 KCBT Wheat  is at $5.43 1/4, down 1 1/4 cents,

Dec 24 MGEX Wheat  is at $5.73 1/2, up 9 cents,

Mar 25 MGEX Wheat  is at $5.90, down 1 1/4 cents,