Export Sales data showed that 118,701 MT of wheat were sold for 2025/26 in the week ending January 1, below analysts’ expectations of 200,000–500,000 MT. Despite this, sales were 6.64% higher than the same holiday week last year and represented a 24.4% improvement from the previous week. The Philippines was the largest buyer with 61,000 MT, while 32,000 MT was sold to unknown destinations. Net reductions of 9,347 MT were recorded for 2026/27.

Census data showed October wheat shipments at 1.96 MMT (72.2 mbu), a 6-year high, though down 39.19% from the previous month.

USDA will release an updated WASDE report on Monday. Market expectations suggest wheat ending stocks could decline by 50 million bushels to 896 million bushels.