Wheat prices closed lower on Wednesday, marking losses on all three major exchanges. Chicago soft red winter futures dropped three to four cents, Kansas City hard red winter futures fell seven to eight cents, and Minneapolis spring wheat eased four to five cents. The market will be closed on New Years Day, resuming trading on Friday. Speculators increased their net short position in Chicago Board of Trade wheat futures and options, while managed money trimmed their net short in Kansas City wheat. Export sales were also down, with just 147,834 metric tons sold for the week ending December eighteenth. March twenty-sixth Chicago wheat settled at $5.07¾, down 3¾ cents, while May twenty-sixth hit $5.18½, off 3½ cents. Kansas City contracts followed suit lower, and Minneapolis futures closed around $5.74 for March. The volatile market awaits the start of 2026.

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