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Austin Schroeder

Wheat Sneaking Higher on Wednesday Morning

Wheat is showing marginal gains across all three exchanges on Wednesday morning. The wheat complex was mixed across the three markets on Tuesday. Chicago SRW futures were fractionally lower on the day. Preliminary open interest was down 3,052 contracts. KC HRW futures saw 1 to 3 cent gains on Tuesday. OI was down 3,674 contracts. MPLS spring wheat was 1 to 2 ¼ cents higher on the day.

USDA released updated WASDE data this morning, with the US carryout projection for 2025/26 raised by 5 mbu to 931 mbu. That came via a 5 mbu reduction to the food use category.

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