International Wheat Market Update

29-Mar-2025 08:14 AM

International Wheat Market Update
According to the Commitment of Traders (COT) data released by CFTC on Friday afternoon, speculative traders increased their net short positions in Chicago Wheat by 11,919 contracts as of Tuesday, bringing the total net short to 92,587 contracts. Meanwhile, in Kansas City (KC) Wheat, they reduced their net short positions by 1,213 contracts, bringing the total net short to 45,450 contracts as of March 25.
As per the USDA Export Sales data, total wheat commitments stood at 21.092 MMT as of March 20, reflecting a 12% increase compared to the same period last year. However, this represents only 93% of the USDA’s forecast, lagging behind the 101% average pace.
The NASS will release the March 1 Grain Stocks data on Monday. According to a Bloomberg survey, traders anticipate an average wheat stock of 1.221 billion bushels (bbu), with estimates ranging between 1.169 and 1.26 billion bushels.