Today’s Wheat News: Market Update for November 2025
Key Takeaways
- CBOT wheat futures decline 0.32% to $5.3975 per bushel for March contracts
- Global wheat production forecast increased to 830 million tons for 2025/26
- Strong export competition drives prices lower despite active demand
- Winter wheat planting 97% complete with excellent crop conditions
Current Price Movements Show Downward Pressure
The latest wheat news reveals significant price declines across major U.S. exchanges. Chicago Board of Trade (CBOT) March contracts for soft red winter wheat closed at $5.3975 per bushel on Friday, November 21st. This represents a 0.32% weekly decline.
Kansas City Board of Trade (KCBT) March contracts for hard red winter wheat performed worse. These contracts lost 0.89% for the week, closing at $5.2625 per bushel. Both markets show consistent downward momentum.
Weekly losses paint a clear picture. Soft red winter wheat dropped 23.5 cents per bushel for the entire week. Hard red winter wheat fell 22.75 cents during the same period. Monthly performance through November shows both contract classes down 14-15.25 cents.
December CBOT contracts started the week of November 24th at approximately $5.27 per bushel. This marks them 4.5 cents below Friday’s close. The trend continues the path of least resistance downward for wheat prices.
Global Supply Outlook Remains Comfortable
The International Grains Council (IGC) raised its global wheat production forecast for 2025/26. The new estimate stands at 830 million tons, up 3 million tons from previous projections. This increase comes from higher production expectations in key regions.
Kazakhstan contributes 1.5 million tons to the upward revision. Argentina adds another 1.3 million tons to global supplies. These increases create a comfortable global wheat balance for the marketing year.
Abundant global supply drives current price weakness. Export competition intensifies as multiple countries compete for market share. This combination pressures prices despite strong fundamental demand patterns.
French wheat conditions support the positive supply outlook. FranceAgriMer rates 98% of French soft wheat crops as good to excellent. Such high-quality ratings indicate strong European production potential for the coming harvest.
Strong Demand Continues Despite Price Declines
Active buying patterns persist across global markets. Saudi Arabia recently purchased 300,000 tons of wheat in a tender process. This demonstrates ongoing demand from major importing nations.
South Korea also shows active purchasing behavior. The country bought over 91,000 tons of U.S. milling wheat. This purchase includes white wheat, hard red winter, and durum varieties. South Korea also acquired 40,000 tons of Canadian spring wheat.
Global wheat demand increases each year according to industry representatives. This fundamental growth supports long-term market stability. Current price declines create opportunities for importers to secure supplies at attractive levels.
Weather factors continue influencing market dynamics. Storm systems bring rain and snow to Midwest, Delta, and Plains regions. Arctic air masses follow these storms, ending field work and pushing winter wheat into dormancy faster.
Winter Wheat Planting Progress Shows Excellent Results
The 2025/26 winter wheat planting season nears completion. Farmers planted 97% of intended acreage by November 23rd. This rapid progress indicates favorable planting conditions across major growing regions.
Crop quality ratings support optimistic production outlooks. Early season conditions favor good establishment and growth. Timely planting allows crops to develop strong root systems before winter dormancy.
Weather patterns support crop development in most areas. Adequate soil moisture helps seedling emergence and early growth. Temperature patterns remain within normal ranges for crop development.
The combination of high planting rates and good conditions sets up potential for strong 2025/26 production. This adds to the comfortable global supply situation driving current price weakness in wheat markets.
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