Wheat Rallying as Russia Rejects Ukraine’s Proposal
The wheat complex is rallying across the three markets on Friday following more Black Sea news. Chicago SRW contracts are up 23 to 25 cents on Friday. KC HRW futures are leading the rally, with contracts up 35 to 36 cents. MPLS spring wheat are rallying 17 to 19 cents across most nearby contracts.
Russia rejected the Ukrainian proposal for a ceasefire in the Black Sea region on civilian vessels and port infrastructure. Recent increases in strikes on export infrastructure has led to limited shipments out of key ports in the Black Sea in a period where wheat shipments typically ramp up after harvest for one of the world’s key wheat exporting regions.
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Export Sales data has total wheat sales for 2026/27 at 7.538 MMT, which is 36% of the current export estimate from USDA and lags the 44% average sales pace.
Taiwan flour mills purchased a total of 97,200 MT of wheat in a tender from the US overnight.
Sep 26 CBOT Wheat is at $6.76 3/4, up 24 cents,
Dec 26 CBOT Wheat is at $6.91 3/4, up 23 1/2 cents,
Sep 26 KCBT Wheat is at $7.56 1/4, up 35 3/4 cents,
Dec 26 KCBT Wheat is at $7.68 3/4, up 34 cents,
Sep 26 MIAX Wheat is at $6.86 3/4, up 17 1/2 cents,
Dec 26 MIAX Wheat is at $7.12 1/2, up 18 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.
