The wheat complex is extending the losses on Thursday, with the three exchanges falling at midday. Chicago SRW futures are 6 to 7 cents lower on Thursday. KC HRW futures are down 4 to 5 cents so far on the day. MPLS spring wheat is 4 to 7 cents in the red at midday.
USDA Export Sales data showed 642,239 MT in net cancellation for 2025/26, which was below estimates of 200,000 MT in net reductions to net sales of 100,000 MT. Sales for 2026/27 were tallied at 838,507 MT, which did exceed the estimated range of 250,000 to 600,000 MT. Some of the old crop cancellation was likely rolled to new crop.
IKAR estimates the Russian wheat output at 91.5 MMT for 2026, a 1.5 MMT hike from their previous number. Exports for 2026/27 are seen at 47.5 MMT.
Jul 26 CBOT Wheat is at $5.80 3/4, down 6 1/2 cents,
Sep 26 CBOT Wheat is at $5.94 3/4, down 6 cents,
Jul 26 KCBT Wheat is at $6.19 1/4, down 4 3/4 cents,
Sep 26 KCBT Wheat is at $6.31 1/4, down 4 1/2 cents,
Jul 26 MIAX Wheat is at $6.19 1/4, down 7 cents,
Sep 26 MIAX Wheat is at $6.46 1/2, down 4 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
