Wheat contracts showed mixed signals ahead of the Thanksgiving break, with traders positioning for potential year-end moves. Here’s what happened:
The Numbers
Chicago SRW: +1-2 cents (outperforming)
Kansas City HRW: Flat to +4 cents (steady strength)
Minneapolis Spring Wheat: -2 to -4 cents (lagging)
March 2026 CBOT wheat closed at $5.40½, while December settled at $5.29.
What’s on the Radar
Friday (Dec 20): First notice day for December futures. Markets reopen at 8:30 CST with an early close—watch for potential volatility.
Export Sales Data Incoming: Delayed export sales report hits Friday morning. Traders are watching for 350K-650K MT of wheat sold in the week of Oct 16.
Korea’s Move: A South Korean importer just locked in 91,300 MT from the US and 40,000 MT from Canada—sign of steady demand despite price volatility.
The Takeaway
Wheat is stuck in a holding pattern before the holiday break. The mixed performance across the three exchanges suggests traders are cautious—no clear directional conviction. Watch Friday’s export data and first notice day action for the next catalyst.
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Wheat Futures Mixed as Holiday Trading Winds Down
Wheat contracts showed mixed signals ahead of the Thanksgiving break, with traders positioning for potential year-end moves. Here’s what happened:
The Numbers
March 2026 CBOT wheat closed at $5.40½, while December settled at $5.29.
What’s on the Radar
Friday (Dec 20): First notice day for December futures. Markets reopen at 8:30 CST with an early close—watch for potential volatility.
Export Sales Data Incoming: Delayed export sales report hits Friday morning. Traders are watching for 350K-650K MT of wheat sold in the week of Oct 16.
Korea’s Move: A South Korean importer just locked in 91,300 MT from the US and 40,000 MT from Canada—sign of steady demand despite price volatility.
The Takeaway
Wheat is stuck in a holding pattern before the holiday break. The mixed performance across the three exchanges suggests traders are cautious—no clear directional conviction. Watch Friday’s export data and first notice day action for the next catalyst.