CBoT Wheat Prices Show Moderate Gains Across All Contracts
Market Update: CBoT Wheat Prices Show Moderate Gains Across All Contracts (Data from Friday, January 10, 2025)
Wheat prices at the Chicago Board of Trade (CBoT) posted moderate gains across all contracts on Friday, January 10, 2025. These price movements reflect a positive market sentiment supported by technical buying and robust export demand.CBoT Price Overview (January 10, 2025, Closing Prices)
The 2025 contracts showed consistent gains, led by the March contract with a +5.00 US cents/bu (+0.94%) increase, supported by high trading volume of 4,967 contracts.Performance of 2026 and 2027 Contracts
Longer-dated contracts also gained, buoyed by stable demand and technical buying.While gains in longer-dated contracts reflect a positive sentiment, trading volumes remain low, indicating limited market activity in these maturities.
Export Regulations in Ukraine
Ukraine introduced an export protection program in January 2025, setting minimum prices for grain exports. These CIF (Cost, Insurance, and Freight) prices for January are:- Wheat: $158.00/t
- Rye: $294.00/t
- Barley: $175.00/t
Market Drivers
- Technical Buying: The gains are largely driven by technical buying and short-term market stabilization.
- Export Demand: Strong demand from Asia, particularly South Korea and Japan, continues to support prices.
- Weather Conditions: Uncertainty regarding weather developments in key growing regions in North America and Europe adds additional support.
- Ukrainian Export Program: The new minimum export prices may tighten supply and influence global market dynamics.
Outlook
If weather conditions remain stable and demand continues, prices could see further gains this week. Traders should monitor developments in export markets and the potential impact of Ukraine’s export program on international competition.Click here to reach our trading platfrom CMBroker
