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Barchart
Barchart
Austin Schroeder

Wheat Rallies on Wednesday

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. 

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