Wheat Facing Midday Weakness on Monday

The wheat complex are easing lower to start the week on Monday. Chicago SRW contracts are 2 to 3 ½ cents lower at midday. KC HRW futures are down 5 to 6 cents. MPLS spring wheat is showing 5 to 8 cent losses in the front months. September futures expire today.

The weekly Export Inspections report showed wheat shipments of 456,720 MT (16.78 mbu) in the week of 9/10. That was 5.9% below the week prior and 39.78% below the same week last year. Japan was the largest destination of 118,788 MT, with 111,415 MT shipped to Mexico and 93,003 MT to Thailand.  Shipments for the marketing year are now 5.676 MMT (208.54 mbu) of wheat, which is 27.78% below the same period last year.

Weekly CFTC data showed managed money cutting back 10,392 contracts from their fresh net long in Chicago wheat futures and options to 4,262 contracts as of September 3. Specs in KC wheat added 964 contracts to their net long to 51,248 contracts on Tuesday. 

APK-Inform estimates the Ukrainian wheat crop at 25 MMT for 2026/27, which was a 2.4 MMT increase from their previous number. Wheat exports are seen at 10.5 MMT for the marketing year.

Dec 26 CBOT Wheat  is at $7.22, down 3 1/4 cents,

Mar 27 CBOT Wheat  is at $7.39, down 2 1/4 cents,

Dec 26 KCBT Wheat  is at $7.92 1/2, down 6 cents,

Mar 27 KCBT Wheat  is at $8.06 1/2, down 5 1/2 cents,

Dec 26 MIAX Wheat  is at $7.37 1/2, down 7 1/2 cents,

Mar 27 MIAX Wheat  is at $7.58 3/4, down 5 1/2 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.