Wheat is seeing a slight recovery on Thursday AM, with contracts higher across the three markets. The wheat complex continued the downtrend on Wednesday, with losses across the three exchanges. Chicago SRW futures fell 11 to 15 ¾ cents into the Wednesday close. Open interest was up 6,945 contracts on Wednesday. KC HRW futures closed with 7 ¼ to 10 ¾ cent losses on the day. MPLS spring wheat was down 9 to 10 3/4 cents on Wednesday.
USDA Export Sales data will be out this morning, as traders are looking for 200,000 MT in net reductions for old crop to net sales of 100,000 MT. Sales for 2026/27 are estimated to total 250,000 to 600,000 MT.
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 closed at $5.87 1/4, down 15 3/4 cents, currently up 2 1/4 cents
Sep 26 CBOT Wheat closed at $6.00 3/4, down 15 1/2 cents, currently up 2 1/4 cents
Jul 26 KCBT Wheat closed at $6.24, down 10 3/4 cents, currently unch
Sep 26 KCBT Wheat closed at $6.35 3/4, down 10 1/2 cents, currently up 1/4 cent
Jul 26 MIAX Wheat closed at $6.26 1/4, down 10 3/4 cents, currently up 1 1/4 cents
Sep 26 MIAX Wheat closed at $6.51, down 10 1/2 cents, currently up 2 1/4 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.
