Wheat Rallies on Thursday

Baked wheat bread sliced via Shutterstock

Austin Schroeder

Fri, February 20, 2026 at 7:55 AM GMT+9 1 min read

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The wheat complex was in rally mode across all three markets on Thursday. Chicago SRW futures closed 12 to 15 cents higher on the day to lead the bull’s charge. KC HRW futures were up 14 to 15 cents at the close. MPLS spring wheat was 8 to 10 cents in the green at the close.

The annual Ag Outlook Forum from USDA released initial armchair estimates for the 2026 wheat crop this morning, with planted acreage estimated at 45 million acres. Production is seen at 1.860 bbu, with yield at 50.8 bpa.

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Export sales data set for Friday morning is expected to show between 250,000 MT and 600,000 MT of old crop wheat sales in the week of 2/12.

Monthly International Grains Council data showed wheat stocks down 1 MMT from last month to 282 MMT, which is still 19 MMT above a year ago.

Mar 26 CBOT Wheat  closed at $5.59 1/2, up 12 1/2 cents,

May 26 CBOT Wheat  closed at $5.66 3/4, up 14 1/4 cents,

Mar 26 KCBT Wheat  closed at $5.65 1/2, up 14 1/2 cents,

May 26 KCBT Wheat  closed at $5.76 3/4, up 15 cents,

Mar 26 MIAX Wheat  closed at $5.83 1/2, up 8 1/2 cents,

May 26 MIAX Wheat  closed at $5.95 1/2, up 9 1/2 cents,

_ On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com _

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