Wheat Extends Post-USDA Report Gains to Wednesday’s Close
The wheat complex was higher across the three exchanges on Wednesday. Chicago SRW contracts were 4 to 11 ¼ cents higher on the Wednesday session. KC HRW futures saw 4 ¾ to 12 ¼ cent gains across the board on Wednesday. MPLS spring wheat was 9 ¾ to 13 ½ cents higher at the Wednesday close.
USDA’s weekly Export Sales report will be out on Thursday, as traders are looking for between 300,000 and 600,000 MT of 2026/27 wheat sales in the week of June 26.
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All wheat acres were tallied at 42.74 million acres in Tuesday’s NASS Acreage report, well below the 43.8 million acre average trade estimate and 1.035 million below March Intentions data. That came mainly on a drop to the winter wheat number, down 890,000 acres from March to 31.52 million. Harvested acres for winter wheat was down 805,000 acres to 21.12 million. Spring wheat acres were tallied just below estimates at 9.39 million acres, with durum at 1.83 million acres and shy of trade ideas.
Quarterly Grain Stocks data showed 920 million bushels of wheat stocks on June 1, also the ending stocks total for 2025/26. That was below the 931 million bushels estimate, but still 65 mbu above last year.
Jul 26 CBOT Wheat closed at $5.92, up 11 1/4 cents,
Sep 26 CBOT Wheat closed at $6.00, up 10 3/4 cents,
Jul 26 KCBT Wheat closed at $6.23 1/4, up 12 1/4 cents,
Sep 26 KCBT Wheat closed at $6.35, up 9 3/4 cents,
Jul 26 MIAX Wheat closed at $5.90, up 13 1/2 cents,
Sep 26 MIAX Wheat closed at $6.19 1/2, up 12 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.
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