U.S. wheat futures traded mixed midday with hard red winter contracts firmer while Chicago SRW and Minneapolis spring wheat slipped modestly; March CBOT wheat fell to $5.06 (-3.5¢), May CBOT $5.17¼ (-2.25¢), March KCBT $5.07¼ (+2.25¢) and March MGEX $5.63 (-2¢). The USDA reported a private export sale cancellation of 132,000 tonnes of white wheat to China and an overnight sale of 20,800 tonnes to a South Korean importer for U.S. origin, highlighting uneven export demand even as price moves remained muted.
U.S. wheat futures traded mixed midday with hard red winter (KC) contracts firmer while Chicago SRW and Minneapolis spring wheat slipped modestly; Chicago SRW futures were 2 to 3½ cents lower while KC HRW futures were 1 to 3 cents higher. Quoted prices included Mar 26 CBOT $5.06 (-3½¢), May 26 CBOT $5.17¼ (-2¼¢), Mar 26 KCBT $5.07¼ (+2¼¢), May 26 KCBT $5.19¼ (+1¾¢), Mar 26 MGEX $5.63 (-2¢) and May 26 MGEX $5.73¾ (-1¾¢). The USDA reported a private export sale cancellation of 132,000 tonnes of white wheat to China alongside an overnight purchase of 20,800 MT by a South Korean importer for U.S. origin, creating an asymmetric export-news profile that helps explain mixed price action. That large cancellation versus a relatively small purchase suggests uneven demand and headline-driven volatility rather than a clear supply shock. Market-impact indicators are muted — sentiment flagged as neutral/mixed with a low market-impact score — and price moves were measured in single cents, implying limited momentum for decisive repositioning; the author disclosed no positions. Given the small basis shifts between HRW and SRW, investors should treat current signals as short-term and watch for follow-up USDA announcements to confirm any directional trend.
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