Wheat Falls Lower on Friday

The wheat complex slipped lower into the weekend. Chicago SRW contracts closed with 2 ¼ to 3 ¼ cent losses, as July was up 4 ½ cents for the week. KC HRW futures saw fractional to 3 3/4 cent lower trade at the close, with July 13 ¾ cents higher this week. MPLS spring wheat posted 1 ¼ to 8 ½ cent losses on Friday, with July down 1 ¼ cents over the course of the week.

Commitment of Traders data showed managed money liquidating more length in the Chicago market, dropping the outright longs by 16,852 contracts and increasing the shorts by 4,684 contracts. The net short was increased by 21,536 contracts to 79,407 contracts as of Tuesday. In KC wheat, spec funds flipped their position to a net short of 4,543 contracts, by a bear move of 18,020 contracts.  

FAS released their weekly Export Sales data with new crop business at 4.591 MMT as of June 4 to start the 2026/27 marketing year. That is at 21.77% of the USDA export projection, compared to the 5-year average pace of 23.18%.

The French soft wheat crop was estimated at 77% in good/excellent condition according to the FranceAgriMer, up 1 percentage point from the week prior. The durum crop was at 64% gd/ex, down 1%.

Jul 26 CBOT Wheat  closed at $5.84 1/2, down 2 1/4 cents,

Sep 26 CBOT Wheat  closed at $5.95 3/4, down 2 1/2 cents,

Jul 26 KCBT Wheat  closed at $6.34 1/2, down 1/4 cent,

Sep 26 KCBT Wheat  closed at $6.40 3/4, down 1/2 cent,

Jul 26 MIAX Wheat  closed at $6.18 1/4, down 1 1/4 cents,

Sep 26 MIAX Wheat  closed at $6.42, down 3 1/2 cents,