International Wheat Market

01-Mar-2025 08:03 AM

International Wheat Market
According to Commitment of Traders data, in the week ending February 25, managed money added 6,037 contracts to their net short in CBT wheat futures and options, bringing the total net short to 67,614 contracts. Meanwhile, in KC wheat, they trimmed their net short by 755 contracts, reducing it to 21,335 contracts.
The Trump administration's decision to impose 25% tariffs on Mexico and Canada is still set to take effect on March 4, despite some discussions on the matter this week.
According to Export Sales data, total export commitments for this marketing year have reached 20.144 million metric tons (MMT), which is 87% of USDA's export forecast, but lags behind the 95% average sales pace. Actual shipments stand at 14.969 MMT, which is 64% of USDA's estimate and behind the 71% average shipping pace.
According to FranceAgriMer, 73% of France's soft wheat crop is rated good/excellent (gd/ex), down from 74% last week. The durum wheat crop also declined by 1% to 82% gd/ex.