International Wheat Market Update

25-Jan-2025 08:17 AM

International Wheat Market Update
According to CFTC data, as of Tuesday, CBT wheat speculators reduced their large net short positions by 2,601 contracts, bringing the total to 91,792 contracts. In KC wheat, they trimmed their net short positions by 2,475 contracts to 35,131 contracts.
Export sales data for the week ending January 16 showed wheat sales of just 164,837 metric tons (MT), falling below trade estimates of 200,000–600,000 MT and less than one-third of the previous week's sales.
Mexico was the largest buyer with 57,500 MT, followed by Japan with 49,200 MT. For the 2025/26 season, sales exceeded expectations (0–50,000 MT) and reached 50,500 MT, with 33,000 MT sold to the Philippines and 14,000 MT to Japan.