Wheat Head Lower to Kick Off the Year

Austin Schroeder Barchart Thu Jan 2, 5:20PM CST
Wheat field on a beautiful summer day by MadalinCalita via Pixabay

The wheat market posted losses on Thursday to close out the Thursday session. Chicago SRW futures were down 3 ½ to 5 ¾ cents across board on the day. KC HRW contracts are down 5 to 7 ½ cents on the Thursday session. MPLS spring wheat futures closed the day with 3 ½ to 6 ¼ cent losses on the day. A sharply stronger US dollar index weighed on the market. 

Precipitation south of the I-80 corridor and mostly east of the Missouri river, as well as creeping into the eastern 2/3 of KS is putting a cap on the market. 

The weekly Export Sales report will be published on Friday morning, as the trade is estimating between 200,000 and 500,000 MT in 2024/25 wheat sales during the Christmas week of 12/26. Sales for 2025/26 are expected to total 0 to 75,000 MT

Mar 25 CBOT Wheat  closed at $5.45 3/4, down 5 3/4 cents,

May 25 CBOT Wheat  closed at $5.57 1/2, down 5 cents,

Mar 25 KCBT Wheat  closed at $5.51 3/4, down 7 1/2 cents,

May 25 KCBT Wheat  closed at $5.60 3/4, down 7 cents,

Mar 25 MGEX Wheat  closed at $5.89 1/2, down 6 1/4 cents,

May 25 MGEX Wheat  closed at $5.98, down 5 1/2 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.