Wheat Falling at Midday
The wheat market is trading with losses at Friday’s midday. Chicago SRW futures are trading with 5 to 6 cent losses in the front months on Friday. Kansas City HRW futures are facing midday weakness, with to 5 cent losses at midday. Minneapolis spring wheat futures are trading with contracts 4 to 6 cent in the red so far on Friday.
The weekly Export Sales report now has total wheat export commitments at 21.631 MMT as of last Thursday, which is up 14% from last year. That is also just 97% of the USDA forecast, with less than a month left in the marketing year and compared to the 104% normal sale pace for this week.
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On Monday, USDA will release the first WASDE showing the 2025/26 balance sheets. Analysts expect to see old crop world stocks at 261 MMT, with the first release for new crop at 261.2 MMT.
FranceAgriMer estimated the French soft wheat crop at 74% good/excellent, which is steady with the previous week.
Jul 25 CBOT Wheat is at $5.23 3/4, down 5 1/2 cents,
Sep 25 CBOT Wheat is at $5.38 1/2, down 5 1/2 cents,
Jul 25 KCBT Wheat is at $5.20, down 4 3/4 cents,
Sep 25 KCBT Wheat is at $5.34, down 4 3/4 cents,
Jul 25 MGEX Wheat is at $5.95 1/4, down 5 1/2 cents,
Sep 25 MGEX Wheat is at $6.08, down 4 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.
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