Wheat Posting Mixed Action
The wheat complex is mixed at midday, with the winter wheats slipping bck and soring wheat posting gains. KC HRW futures are slipping back by2 to 3 ¼ cents at midday. CBT futures are trading with contracts down 1 to 2 cents. MPLS spring wheat is trading with 4 to 5 cent gains at midday.
USDA has the 2025/26 wheat export book at 10.309 MMT in shipped and unshipped sales, which is the highest since 2017/18 for this specific week. That is 20% ahead of last year and 45% of the USDA forecast, which is ahead of the 41% average pace.
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The French Farm Ministry estimates the French wheat crop at 33.1 MMT, 0.5 MMT increase from last month. IKAR estimates the Russian wheat crop at 84.5 MMT, up 0.5 MMT from the pervious projection.
Analysts estimate the US wheat production total to be tallied at 1.922 billion bushels in Tuesday’s Crop Production report, which would be down 7 mbu from last month.
Sep 25 CBOT Wheat is at $5.16 3/4, down 1 1/2 cents,
Dec 25 CBOT Wheat is at $5.37 1/4, down 1 3/4 cents,
Sep 25 KCBT Wheat is at $5.19 1/2, down 2 cents,
Dec 25 KCBT Wheat is at $5.38 1/2, down 3 1/4 cents,
Sep 25 MGEX Wheat is at $5.78 3/4, up 4 3/4 cents,
Dec 25 MGEX Wheat is at $5.99 1/4, up 4 1/4 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.
