Chicago Board of Trade wheat futures closed down on Friday after a U.S. Department of Agriculture data release showing higher than expected ending stocks, with additional pressure from ample global supplies, including a record-large Argentine harvest.

CBOT December soft red winter wheat (WZ25) settled down 8-1/2 cents at $5.27-1/4 per bushel.

K.C. December hard red winter wheat (KWZ25) ended down 10-1/2 cents at $5.15-1/4 a bushel and Minneapolis December spring wheat (MWEZ25) finished down 5 cents at $5.64-3/4 a bushel.

The USDA estimated U.S. wheat ending stocks at 901 million bushels, compared with an average analyst estimate of 867 million bushels.

The agency estimated world wheat ending stocks at 271.43 million metric tons, with an average analyst estimate of 266.13 million metric tons.

The Buenos Aires Grains Exchange raised its estimate of Argentina’s 2025/26 wheat harvest to a record 24 million metric tons, up from 22 million previously. The country’s Rosario Exchange on Wednesday also raised its wheat forecast to a record 24.5 million tons.
Source: Reuters