International Wheat Market:

01-Feb-2025 08:02 AM

International Wheat Market:
Mexico/Canada Tariff Update: President Trump dismissed reports of delays in the tariff implementation date with Mexico and Canada, confirming that the February 1 deadline still stands. No retaliatory actions have been taken by these countries so far.
COT Data: Commitment of Traders (COT) data shows that speculative funds added 18,990 contracts to their short position in CBT wheat as of January 28, bringing their net short position to 110,782 contracts. Additionally, they added 7,255 contracts to their short position in Kansas City (KC) wheat, bringing their net short position to 42,386 contracts.
Export Sales Data: According to export sales data, total export commitments for the marketing year stand at 18.328 million metric tons (MMT), which is 79% of the USDA’s export forecast. This is behind the average pace (89%), raising concerns about the export market.