The wheat complex is extending the losses on Thursday, with the three exchanges falling at midday. Chicago SRW futures are 6 to 7 cents lower on Thursday. KC HRW futures are down 4 to 5 cents so far on the day. MPLS spring wheat is 4 to 7 cents in the red at midday.
USDA Export Sales data showed 642,239 MT in net cancellation for 2025/26, which was below estimates of 200,000 MT in net reductions to net sales of 100,000 MT. Sales for 2026/27 were tallied at 838,507 MT, which did exceed the estimated range of 250,000 to 600,000 MT. Some of the old crop cancellation was likely rolled to new crop.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
IKAR estimates the Russian wheat output at 91.5 MMT for 2026, a 1.5 MMT hike from their previous number. Exports for 2026/27 are seen at 47.5 MMT.
Jul 26 CBOT Wheat is at $5.80 3/4, down 6 1/2 cents,
Sep 26 CBOT Wheat is at $5.94 3/4, down 6 cents,
Jul 26 KCBT Wheat is at $6.19 1/4, down 4 3/4 cents,
Sep 26 KCBT Wheat is at $6.31 1/4, down 4 1/2 cents,
Jul 26 MIAX Wheat is at $6.19 1/4, down 7 cents,
Sep 26 MIAX Wheat is at $6.46 1/2, 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.
More news from Barchart
- Can Wheat Continue to Rally?
- Ignore the Panic Over Falling Crude Oil Prices and Buy July SRW Wheat Here
- All Aboard! Grain Bulls Are Looking to Recreate Record Runs in Gold, Silver Prices
- Winter Wheat Rallies Keeping Corn, Soybeans Afloat; Cotton Prices Continue to Surge
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
