Wheat is showing mixed action across the three markets early on Friday, with contracts sticking close to unch. The wheat complex trading posted losses across most contracts on Thursday, with some in the KC market holding higher. Chicago SRW futures were 3 to 5 cents lower on the day. Thursday’s preliminary open interest was down 5,824 contracts. The Kansas City HRW contracts were fractionally mixed on the session. Minneapolis spring wheat futures were down 3 to 4 cents at the close on Thursday.

The market will be closed on Monday for Memorial Day, as well as the government reports delayed, with a normal 7:00 pm CDT open on Monday.

Export Sales data showed old crop at net reductions of 13,373 MT. New crop wheat sales came in at 882,202 MT. That was a MY high for the 2025/26 crop, as combined sales were the largest since December 2023. The largest buyer was unknown destinations at 153,300 MT, with 137,000 MT sold to the Philippines and 102,400 MT to Japan.

Monthly International Grains Council data showed world wheat output for 2025/26 steady at 806 MMT. Consumption was down 1 MMT, with stocks for the marketing year up 2 MMT to 262 MMT.

The FranceAgriMer shows an estimated 71% of the French wheat crop rated good/excellent, which was down 73% from the week prior. 

Jul 25 CBOT Wheat  closed at $5.44 1/2, down 4 3/4 cents, currently up ¼ cents

Sep 25 CBOT Wheat  closed at $5.60 1/2, down 3 1/4 cents, currently unch cents

Jul 25 KCBT Wheat  closed at $5.40, down 1/2 cent, currently down 2 1/2 cents

Sep 25 KCBT Wheat  closed at $5.55, up 1/4 cent, currently down 2 ¼ cents

Jul 25 MGEX Wheat  closed at $6.00 1/4, down 4 cents, currently up 3 ¼ cents

Sep 25 MGEX Wheat  closed at $6.14, down 3 cents, currently up 3 ¾ cents