The wheat complex is posting Thursday gains at midday, to lead the grain complex. Chicago SRW contracts are showing are up 8 to 11 ½ cents higher. There were 25 delivery notices for July futures overnight. KC HRW futures are trading with gains of 6 to 9 ¼ cents. MPLS spring wheat is 6 to 7 cents in the green at midday.
Export Sales data from USDA this morning showed a total of 313,103 MT of wheat sold in the week of July 2, falling on the lower end of the 250,000 and 600,000 MT estimates for 2026/27 wheat sales. That was back up from last week, but still 45.86% below the same week last year.
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.
Taiwan issued a tender for 98,150 MT of US wheat overnight, with a deadline of July 15. Ukraine raised their 2026/27 wheat production number by 1 MMT to 23 MMT according to the latest government number released this morning. Argentina wheat was raised by 0.5 MMT to 20.5 MMT for 2026/27 according to the Rosario Grains Exchange. EU wheat was trimmed by 0.9 MMT to 128.3 MMT, according to the latest Expana number. USDA will give their take in Friday’s WASDE report.
Jul 26 CBOT Wheat is at $6.11, up 11 1/2 cents,
Sep 26 CBOT Wheat is at $6.18 1/4, up 10 1/2 cents,
Jul 26 KCBT Wheat is at $6.43 1/2, up 9 1/4 cents,
Sep 26 KCBT Wheat is at $6.53 3/4, up 8 1/2 cents,
Jul 26 MIAX Wheat is at $6.03, unch,
Sep 26 MIAX Wheat is at $6.37 3/4, up 7 cents,
