Kansas City hard red winter wheat contracts led the wheat complex higher on Friday, even as other major benchmarks struggled to hold their footing at midday.
Chicago soft red winter futures posted fractional losses during Friday’s session, with the May 2026 CBOT wheat contract settling at $5.56 3/4, down 1/2 cent on the day.
Kansas City HRW contracts bucked the broader trend, gaining 1 to 2 cents in the front months, with May KCBT wheat climbing to $5.88 1/4, up 1 3/4 cents.
Minneapolis spring wheat contracts also slipped, with the May MGEX contract falling 1 1/2 cents to $6.03 1/4, while the July contract edged down 1 1/4 cents to $6.19 1/4.
The July CBOT wheat contract edged marginally lower to $5.73 1/4, down 1/4 cent, while the July KCBT contract gained 1 3/4 cents to reach $6.02 3/4.
USDA Export Sales data released Thursday showed a marketing year low, with net reductions of 248,849 metric tons recorded for U.S. wheat during the reporting period.
That figure trimmed total export sale commitments for U.S. wheat to 21.026 million metric tons for the 2024/25 marketing year, though that figure still sits 14% above the same week from the prior year.
The current sales pace stands at 93% of the USDA’s full-year export projection, trailing the five-year average pace of 99% and raising concerns among market watchers about the trajectory of American wheat exports.
Overseas, French crop conditions offered a measure of stability, with FranceAgriMer reporting soft wheat ratings at 74% good to excellent, unchanged from the previous week’s reading.
The mixed session reflects ongoing uncertainty in global wheat markets, as strong year-over-year export commitments are offset by a lagging sales pace and a marketing year low in weekly export sales data.
Traders will continue to monitor both domestic export progress and international crop development in key producing regions as the marketing year advances and supply and demand dynamics evolve.
