The wheat complex posted mixed action on Wednesday, with Hard Red Winter (HRW) wheat holding higher while other varieties showed declines. Chicago Soft Red Winter (SRW) futures were down between 2 and 3¼ cents on the day. Meanwhile, Kansas City (KC) HRW futures closed up 2 to 3 cents. Minneapolis (MPLS) spring wheat saw a decrease of 3 cents in the nearby contracts on Wednesday.

This morning, the USDA reported a private export sale cancellation of 132,000 metric tons of white wheat destined for China.

Backlogged Commitment of Traders (COT) data revealed that managed money cut 9,905 contracts from their net short position in the week ending December 2. The Chicago Board of Trade (CBOT) wheat net short stood at 43,841 contracts of futures and options. In KC wheat, traders trimmed their net short by 4,153 contracts, bringing it down to 17,911 contracts.

In export news, a South Korean importer purchased a total of 20,800 metric tons of wheat to be originated from the United States overnight.

Here are the closing futures prices on Wednesday:

– March 2026 CBOT Wheat: $5.06¼, down 3¼ cents
– May 2026 CBOT Wheat: $5.17¼, down 2¼ cents
– March 2026 KCBT Wheat: $5.07¾, up 2¾ cents
– May 2026 KCBT Wheat: $5.20¼, up 2¾ cents
– March 2026 MGEX Wheat: $5.62, down 3 cents
– May 2026 MGEX Wheat: $5.73½, down 3 cents

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*Disclosure:* 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 provided is for informational purposes only. For more details, please view the [Barchart Disclosure Policy](https://www.barchart.com/disclosure).

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*The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.*
https://www.nasdaq.com/articles/wheat-closes-mixed-wednesday-china-cancels-some-business