Wheat Exhibits Decline as Market Closes on Friday
In the global wheat market, US FOB prices have drawn nearer to those of major competitors, such as France and Russia. This development comes as the USDA's Export Sales report from August 28 revealed a total of 312,978 MT of wheat sold, which is below estimates and the second lowest for the marketing year.
The largest buyers in this period were Nigeria, purchasing 117,100 MT, followed by Mexico with 90,400 MT and the Philippines with 65,800 MT.
In the Commitment of Traders report as of September 9, 2025, speculators in Chicago wheat futures and options increased their net short position by 10,451 contracts to a total of approximately 92,394 contracts. Meanwhile, speculators in Kansas City wheat futures and options reduced their net short position by 1,656 contracts to about 53,025 contracts. However, in Kansas City wheat, speculators increased their net short position by 6,000 contracts, to 54,681 contracts by September 2.
The wheat complex ended the week with contracts lower across most contracts. CBT soft red wheat futures closed 2 cents lower, with December down 15 cents. Similarly, MGEX Wheat closed at $5.45 1/4, down 4 1/4 cents. In Kansas City, KCBT Wheat closed at $4.81 3/4, up 2 cents, while MPLS spring wheat saw 4 to 5 cent losses, with December down 14 cents since last Friday.
On September 25, KCBT Wheat closed at $4.81 3/4, up 2 cents, and MGEX Wheat closed at $5.45 1/4, down 4 1/4 cents. On the same day, CBOT Wheat closed at $5.01, down 1 1/4 cents, and Dec 25 CBOT Wheat closed at $5.19 1/4, down 1/4 cent.
In the thin September market, KC HRW futures were up 2 cents, but down 1 to 2 cents across other contracts, with December 14 1/2 cents lower this week. Commitment of Traders data showed spec funds adding 356 contracts to their net short position in Chicago wheat futures and options, taking it to 81,943 contracts.
This week's closing prices for December 25 KCBT Wheat were $5.05 1/4, down 1 cent, and for December 25 MGEX Wheat, $5.66, down 4 1/4 cents.
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