The wheat complex is trading with weakness on Thursday. Chicago SRW futures are down 8 to 9 cents at midday. KC HRW futures are showing 5 to 6 ½ cent losses across most contracts on Thursday. MPLS spring wheat is showing fractional gains to losses of 2 cents.
Export Sales data from this morning indicated 166,342 MT of old crop wheat sold in the week of 5/14, which was on the higher end of analysts’ estimates of 0 to 200,000 MT. That was a 3-week high and well above the net cancellations from the same week last year. The MY ends in 10 days. Sales for 2026/27 were at 130,488 MT, on the lower end of the expected total of 100,000 to 350,000 MT. That was back below last week’s total and well below the same week last year.
The German 2026 wheat crop is estimated to be down 2.5% from the year prior at 22.57 MMT according to the country’s farm cooperatives.
Jul 26 CBOT Wheat is at $6.51 3/4, down 8 3/4 cents,
Sep 26 CBOT Wheat is at $6.65, down 8 1/2 cents,
Jul 26 KCBT Wheat is at $6.92 1/4, down 6 1/2 cents,
Sep 26 KCBT Wheat is at $7.03 1/2, down 5 3/4 cents,
Jul 26 MIAX Wheat is at $6.95 1/4, up 3/4 cent,
Sep 26 MIAX Wheat is at $7.14 1/2, down 1 3/4 cents,
