The wheat complex closed mostly higher on Friday, as winter wheat contracts showed signs of trying to form a bottom.

CBT soft red wheat futures were 1 to 2 cents higher, with December gaining 5 ¼ cents for the week. KC HRW futures advanced 2 to 3 cents across the front months, and the lead December contracts were up 8 ½ cents compared to last Friday. Meanwhile, MPLS spring wheat futures traded steady to a penny lower, with December down 3 ¼ cents for the week.

In crop updates, FranceAgriMer estimated that 27% of France’s soft wheat crop was planted as of October 13, marking an increase from the previous week. The Buenos Aires Grain Exchange reported that 90% of Argentina’s wheat crop was in good to excellent condition, though they issued a caution regarding colder weather expected next week. Their overall crop estimate remains at 22 million metric tons (MMT).

In recent market activity, Algeria purchased a total of 400,000 metric tons of wheat in a recent tender. Ukraine’s wheat exports have totaled 5.6 MMT since July 1, representing a 21% decrease from the same period last year.

As of Friday’s close, futures prices were as follows:

– Dec 25 CBOT Wheat: $5.03 ¾, up 1 ¼ cents
– Mar 26 CBOT Wheat: $5.20 ¼, up 1 ½ cents
– Dec 25 KCBT Wheat: $4.91 ½, up 2 ¾ cents
– Mar 26 KCBT Wheat: $5.11, up 2 cents
– Dec 25 MGEX Wheat: $5.49 ½, down 1 cent
– Mar 26 MGEX Wheat: $5.69 ½, down ½ cent

*Disclaimer:* On the date of publication, Austin Schroeder did not hold positions, directly or indirectly, in any of the securities mentioned in this article. All information and data provided are for informational purposes only. For more details, please view the [Barchart Disclosure Policy](https://www.barchart.com/disclaimer). The views and opinions expressed are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
https://www.nasdaq.com/articles/wheat-sees-buying-weekend