Wheat Weakness Pushes to Thursday
The wheat complex held onto weakness across the three exchanges at the final bell on Thursday. Chicago SRW contracts were down 3 ¾ to 6 ¾ cents on the session. KC HRW futures posted 5 to 8 ½ cent losses. MPLS spring wheat was 1 to 3 1/2 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. That was a 3 week high but still 14.65% below the same week last year. The Philippines was the top buyer of 189,600 MT, with 70,300 MT sold to Mexico and 51,500 MT to South Korea.
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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 closed at $7.27, down 3 3/4 cents,
Mar 27 CBOT Wheat closed at $7.43, down 3 3/4 cents,
Dec 26 KCBT Wheat closed at $7.94 1/2, down 5 cents,
Mar 27 KCBT Wheat closed at $8.07, down 5 1/4 cents,
Dec 26 MIAX Wheat closed at $7.53 1/2, down 3 1/2 cents,
Mar 27 MIAX Wheat closed at $7.72 1/2, down 3 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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