Wheat Nears 4-Month Highs

2025-11-17 19:38 By Felipe Alarcon 1 min. read

Wheat futures rose past $5.40 per bushel, nearing the four month high of $5.55 hit on November 5th, as aggressive near term buying and scarce prompt availability offset the larger global supply picture in the November WASDE.

The USDA did raise world production and ending stocks which pressured the market, but strong state and commercial tenders paid elevated CFR levels and pulled nearby shipments into North Africa and Asia, tightening the pool of grain available for immediate loading.

At the same time US Gulf and PNW FOB values firmed and export inspections showed solid year to date shipments, forcing sellers to compete for orders.

Limited offers from the Black Sea and firm premiums for Canadian and Argentine origin into key destinations left few prompt alternatives, so buyers pushed bids higher to secure cargoes.



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