Wheat futures advanced broadly on Thursday, with gains registered across all three major exchanges. Chicago SRW wheat futures climbed 4 to 4½ cents, while Kansas City HRW contracts rose 4¼ to 7¼ cents. Meanwhile, Minneapolis spring wheat futures strengthened by 4¼ to 8 cents by the session’s close.
Export sales data for Friday morning will be delayed due to the prior Monday holiday. Market expectations point to 250,000 to 550,000 metric tons of total wheat sales for the 2024/25 marketing year during the week ending October 10, with minimal activity anticipated for the 2025/26 season (0 to 50,000 metric tons).
Taiwan secured 78,200 metric tons of U.S. wheat in a recent tender. International Grains Council data indicated global wheat production remained steady at 798 million metric tons, though consumption increased by 1 million metric tons and ending stocks were reduced by 1 million metric tons to 266 million metric tons.
Key contract closures included December 2024 CBOT wheat at $5.89½ (up 4½ cents), March 2025 CBOT wheat at $6.09½ (up 4¼ cents), December 2024 KCBT wheat at $5.96 (up 7¼ cents), March 2025 KCBT wheat at $6.10 (up 6½ cents), December 2024 MGEX wheat at $6.28¾ (up 8 cents), and March 2025 MGEX wheat at $6.50 (up 7¼ cents).
