International Wheat Market

10-May-2025 08:11 AM

International Wheat Market
COT data as of May 6 shows spec funds reduced their large net short position in CBT wheat by 7,681 contracts to 113,734 contracts, while they increased their record net short in KC wheat by 4,971 contracts, bringing it to 72,240 contracts.
Weekly export sales report showed U.S. wheat export commitments at 21.631 MMT as of last Thursday, which is 14% higher than last year. This is 97% of the USDA forecast, though the normal pace for this point in the year is around 104%, with less than a month remaining in the marketing year.
USDA will release the first 2025/26 WASDE balance sheets on Monday. Analysts expect old crop world wheat stocks at 261 MMT, and the new crop projection to start at 261.2 MMT.
FranceAgriMer rated 74% of France’s soft wheat crop as good/excellent, unchanged from the previous week.