The wheat complex was in bounce back mode on Wednesday, with gains across all three markets.. Chicago SRW futures were up 9 to 10 cents at the close. KC HRW futures led the bull’s charge, with contracts up 11 to 12 ¼ cents in the nearbys. MPLS spring wheat saw strength, with contracts 5 to 6 cents higher.
The annual Ag Outlook Forum from USDA will publish initial armchair estimates for the 2026 wheat crop on Thursday. Heading into the release, analysts surveyed by Bloomberg are looking for all wheat acreage to be reported at 44.7 million acres, down ~600,000 acres from last year if realized. Production is seen at 1.872 bbu, down 113 mbu from last year.
The forecast for the next week calls for light precip totals in SRW area, with the Southern Plains remaining dry.
Mar 26 CBOT Wheat closed at $5.47, up 9 1/4 cents,
May 26 CBOT Wheat closed at $5.52 1/2, up 10 cents,
Mar 26 KCBT Wheat closed at $5.51, up 12 1/4 cents,
May 26 KCBT Wheat closed at $5.61 3/4, up 11 1/4 cents,
Mar 26 MIAX Wheat closed at $5.74, up 5 3/4 cents,
May 26 MIAX Wheat closed at $5.85, up 5 cents,
