Wheat Falling Back on Wednesday
The wheat complex is trading with midday losses on Wednesday. Chicago SRW contracts are posting 2 to 8 cent losses on Wednesday. KC HRW futures are showing 3 to 7 cent lower trade at midday. There were 4 deliveries against July futures overnight. MPLS spring wheat is down 2 to 3 cents across most contracts.
Export Sales data from USDA will be released on Thursday morning, as analysts are looking for between 250,000 and 600,000 MT in 2026/27 wheat sales in the week of July 2.
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Monthly trade data from Census showed 1.609 MMT (59.13 mbu) of wheat in May, which was 13.73% below April and a 26.7% drop from last year. Full marketing year exports, including products were 912 mbu.
SovEcon trimmed their wheat production estimate by 0.2 MMT for 2026/27 to 46.5 MMT, which is slightly above the 46.2 MMT projected for last year.
Jul 26 CBOT Wheat is at $6.07 1/4, down 2 cents,
Sep 26 CBOT Wheat is at $6.11 1/2, down 7 cents,
Jul 26 KCBT Wheat is at $6.36 1/4, down 3 1/2 cents,
Sep 26 KCBT Wheat is at $6.45 3/4, down 7 cents,
Jul 26 MIAX Wheat is at $6.03, unch,
Sep 26 MIAX Wheat is at $6.31, down 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.
