International Wheat Market

28-Jun-2025 08:14 AM

International Wheat Market
According to the weekly CFTC update, spec funds held a net short of 64,667 contracts in Chicago wheat futures and options as of June 24, a reduction of 16,686 contracts from the prior week. In Kansas City wheat, managed money cut their net short by 18,689 contracts to 43,462 contracts.
Bloomberg’s survey suggests total U.S. wheat acreage could be 45.4 million acres in Monday’s report, including 10 million acres for spring wheat and 2 million for durum. Wheat stocks as of June 1 are expected at 836 million bushels, which would be the final count for 2024/25 and 5 million bushels lower than the June WASDE estimate.
Export Sales data shows total wheat export commitments at 6.608 million metric tons as of June 19—a 5-year high. This is 29% of USDA’s full-year forecast and ahead of the 28% average.
South Korean mills purchased 82,000 metric tons of U.S. wheat in two tenders overnight.
According to Statistics Canada, Canadian total wheat acreage is estimated at 26.925 million acres, up 1% from last year. Spring wheat is down 0.7% at 18.809 million acres, while durum is up 2.69%, and winter wheat is up by 244,000 acres.