The wheat complex closed the midweek session with weakness across the three markets. Chicago SRW contracts closed with Wednesday losses of 7 ¾ to 10 ¾ cents. KC HRW futures posted 5 ½ to 7 ¾ cent losses. MPLS spring wheat wad steady to down 3 cents across most contracts.
Export Sales data from USDA will be released on Thursday morning, as analysts are looking for between 250,000 and 600,000 MT in 2026/27 wheat sales in the week of July 2.
Crop Production data will be updated on Friday, with a Bloomberg poll of analysts looking for all wheat production to total 1.527 bbu, down 17 mbu from last month. All winter wheat production is seen 1.004 bbu, a 26 mbu drop from last month, with spring wheat at 458 mbu.
SovEcon trimmed their wheat production estimate by 0.2 MMT for 2026/27 to 46.5 MMT, which is slightly above the 46.2 MMT projected for last year.
Jul 26 CBOT Wheat closed at $5.99 1/2, down 9 3/4 cents,
Sep 26 CBOT Wheat closed at $6.07 3/4, down 10 3/4 cents,
Jul 26 KCBT Wheat closed at $6.34 1/4, down 5 1/2 cents,
Sep 26 KCBT Wheat closed at $6.45 1/4, down 7 1/2 cents,
Jul 26 MIAX Wheat closed at $6.03, unch,
Sep 26 MIAX Wheat closed at $6.31 3/4, down 2 1/4 cents,
