International Wheat Market

08-Mar-2025 08:09 AM

International Wheat Market
According to the Commitment of Traders report released this afternoon, managed money increased its net short position in CBT wheat by 14,785 contracts, bringing the total to 82,399 contracts. In KC wheat, they added 17,947 contracts to their net short position by Tuesday, reaching a total of 39,282 contracts.
As of February 27, total wheat export commitments reached 20.484 million metric tons (MMT), which is 11% higher than the same period last year. This represents 89% of the USDA’s wheat export estimate but lags behind the average pace of 97% for export sales.
The USDA’s monthly WASDE report will be released on Tuesday, and traders do not expect significant changes in the U.S. ending stocks estimate. The average trade estimate stands at 797 million bushels (mbu), which is 3 mbu higher than last month.
Japan purchased 94,282 metric tons of wheat from the U.S., Australia, and Canada in its weekly tender, including 35,882 metric tons of U.S. wheat.
The quality rating of French soft wheat was recorded at 73% good/excellent (gd/ex), up by 1% compared to the previous week.