International Wheat Market

22-Mar-2025 08:54 AM

International Wheat Market
For the upcoming week, rainfall prospects in the Southern Plains region are limited. However, parts of southern and central Texas may experience some heavy showers. Areas from the Texas Panhandle to western Kansas are expected to remain dry, with only minimal precipitation likely in the eastern parts as well.
According to Commitment of Traders (COT) data from the CFTC, speculators added 3,256 contracts to their net short positions in Chicago Wheat, bringing the total to 80,668 contracts. In contrast, they reduced their large net short position in Kansas City (KC) Wheat by 2,059 contracts, bringing it down to 46,663 contracts as of March 18.
According to the USDA’s export sales report, total U.S. wheat export commitments for the 2024/25 marketing year have reached 21.026 million metric tons (MMT), which is 14% higher than the same period last year. This represents 93% of the USDA’s export forecast, although it remains below the five-year average pace of 99%.