Wheat Popping Off Early Losses on Thursday
The wheat complex is holding lower on Thursday across the three exchanges but pulling off early lows. Chicago SRW contracts are trading with contracts 2 to 3 cents lower at midday. KC HRW futures are posting 2 to 3 cent losses on the day. MPLS spring wheat is 1 to 3 cents in the red on Thursday.
Export Sales data from this morning showed 325,935 MT in wheat sales for 2026/27 in the week of 9/10, which was in the middle of expectations of 150,000 and 500,000 MT. That was a 3 week high but still 14.65% below the same week last year.
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Overnight, Turkey proposed a deal to end Black Sea strikes, which have limited wheat exports. No response to the proposal has been made.
SovEcon estimates the combined wheat exports from Russia and Ukraine in the July through September period to total 8 MMT, which would be shy of the 16.4 MMT in the same period last year.
Dec 26 CBOT Wheat is at $7.28 1/4, down 2 1/2 cents,
Mar 27 CBOT Wheat is at $7.44 1/2, down 2 1/4 cents,
Dec 26 KCBT Wheat is at $7.96 1/2, down 3 cents,
Mar 27 KCBT Wheat is at $8.09 1/2, down 2 3/4 cents,
Dec 26 MIAX Wheat is at $7.54 1/2, down 1 1/2 cents,
Mar 27 MIAX Wheat is at $7.72, down 2 3/4 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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