International Wheat Market
12-Jul-2025 08:22 AM
International Wheat Market
Friday’s Commitment of Traders report showed spec funds reducing their net short position in Chicago wheat futures and options by 7,477 contracts to 55,594 contracts as of July 8. In Kansas City wheat, managed money added 971 contracts to reach a net short of 43,319 contracts.
Morning crop production data showed total US wheat production up by 8 million bushels to 1.929 billion bushels, as yield was raised by 1 bushel per acre to 52.6. Winter wheat production fell by 37 million bushels to 1.345 billion due to reduced acreage. Spring wheat production came in above expectations at 503.6 million bushels, while durum wheat was 79.7 million bushels.
The larger US production and increased carryover (up 10 to 851 million bushels) was offset by a 25 million bushel increase in exports (to 850 million). This led to a cut in projected new crop stocks by 8 million bushels to 890 million.
Global wheat ending stocks for 2025/26 were lowered by 1.24 million metric tons to 261.52 million metric tons, mostly due to a 1 million metric ton reduction in Canadian production.
FranceAgriMer reported France’s soft wheat crop at 68% good/excellent, up 1 point from last week, with harvest progress at 36%.