Wheat Showing Early Thursday Gains
Wheat is trading with Thursday morning gains across most contracts of 2 to 4 cents. The wheat complex was higher across the three exchanges on Wednesday. Chicago SRW contracts were 4 to 11 ¼ cents higher on the Wednesday session. Open interest suggested a rotation of ownership, down just 244 contracts. KC HRW futures saw 4 ¾ to 12 ¼ cent gains across the board on Wednesday. There were 38 deliveries against July KC wheat overnight, with 6 issued against July CBT wheat. MPLS spring wheat was 9 ¾ to 13 ½ cents higher at the Wednesday close.
The market will observe the July 4th Independence Day Holiday on Friday, for a 3-day weekend. Sunday night will be a normal open.
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USDA’s weekly Export Sales report will be out this morning, as traders are looking for between 300,000 and 600,000 MT of 2026/27 wheat sales in the week of June 26.
Saudi Arabia issued a tender for 655,000 MT of wheat this morning for delivery this fall.
Jul 26 CBOT Wheat closed at $5.92, up 11 1/4 cents, currently up 3/4 cent
Sep 26 CBOT Wheat closed at $6.00, up 10 3/4 cents, currently up 4 cents
Jul 26 KCBT Wheat closed at $6.23 1/4, up 12 1/4 cents, currently down 2 1/2 cents
Sep 26 KCBT Wheat closed at $6.35, up 9 3/4 cents, currently up 3 1/4 cents
Jul 26 MIAX Wheat closed at $5.90, up 13 1/2 cents, currently unch
Sep 26 MIAX Wheat closed at $6.19 1/2, up 12 cents, currently up 1 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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