Wheat is showing fractional to 2 cent losses across the winter wheats early on Thursday, with spring wheat bouncing. The wheat complex saw mixed trade into the Wednesday close. Chicago SRW contracts were 3 3/4 to 10 cents higher to close out the midweek session. Open interest was up 2,053 contracts suggesting new buying. KC HRW futures were 6 ½ to 14 cents higher across the board. Open interest was up 1,909 contracts on Wednesday. MPLS spring wheat was mixed, with front months down as much as 1 ¼ cents with deferreds up 3 ½ at the close.
Weekly Export Sales data will be out this morning, as traders are expecting to see net sales of 2026/27 wheat between 250,000 to 450,000 MT in the week of July 30
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Concerns remain about the flow of exports out of the Black Sea as the Russia/Ukraine conflicts has ramped up attacks on vessels and port in recent weeks. Russia struck a Ukrainian vessel loaded with wheat late on Wednesday.
Algeria purchased an estimated 720,000 MT of wheat in a tender on Wednesday. Expana estimates the EU wheat crop at 126.8 MMT, which was down 1.5 MMT from their previous number.
Sep 26 CBOT Wheat closed at $6.42 1/4, up 3 3/4 cents, currently down 1/4 cent
Dec 26 CBOT Wheat closed at $6.61 1/4, up 4 cents, currently down 1/4 cent
Sep 26 KCBT Wheat closed at $7.13 1/2, up 6 1/2 cents, currently down 1 1/2 cents
Dec 26 KCBT Wheat closed at $7.31, up 6 1/2 cents, currently down 1 1/2 cents
Sep 26 MIAX Wheat closed at $6.84 1/2, down 1 cent, currently up 1 cent
Dec 26 MIAX Wheat closed at $7.08, down 1 1/4 cents, currently up 1 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.
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