Wheat is showing 5 to 8 cent gains on Wednesday morning trade. The wheat complex found some footing for the bulls, as all three exchanges were higher. Chicago SRW contracts were 1 3/4 to 11 1/4 cents higher across the board, led by the nearbys. Open interest was up 7,296 contracts, implying new buying interest. There were 25 deliveries issued against July futures overnight.  KC HRW futures were up 10 to 11 ¼ at the close. Open interest was up 3,800 contracts on Tuesday. There were 346 deliveries issued against July. MPLS spring wheat was 4 to 6 cents higher on the day.Â
USDA reported a private export sale of 100,000 MT of HRS wheat to Nigeria this morning for 2026/27.
All wheat acres were tallied at 42.74 million acres in Tuesday morning’s NASS Acreage report, well below the 43.8 million acre average trade estimate and 1.035 million below March Intentions data. That came mainly on a drop to the winter wheat number, down 890,000 acres from March to 31.52 million. Harvested acres for winter wheat was down 805,000 acres to 21.12 million. Spring wheat acres were tallied just below estimates at 9.39 million acres, with durum at 1.83 million acres and shy of trade ideas.Â
Quarterly Grain Stocks data showed 920 million bushels of wheat stocks on June 1, also the ending stocks total for 2025/26. That was below the 931 million bushels estimate, but still 65 mbu above last year.Â
EU soft wheat exports from July 1 last year to June 28 have totaled 23.17 MMT according to European Commission Data, up 1.7 MMT from the year prior.Â
Canadian wheat acreage was tallied at 25.33 million acres according to Statistics Canada data released on Tuesday morning, a 5.9% drop from last year. Spring wheat acres were down 3.9% at 18.067 million acres, with durum wheat dropping 10.3% to 5.86 million acres.
Jul 26 CBOT Wheat  closed at $5.80 3/4, up 11 1/4 cents, currently up 2 1/2 cents
Sep 26 CBOT Wheat  closed at $5.89 1/4, up 9 1/2 cents, currently up 7 1/2 cents
Jul 26 KCBT Wheat  closed at $6.11, up 11 cents, currently up 8 1/4 cents
Sep 26 KCBT Wheat  closed at $6.25 1/4, up 10 1/2 cents, currently up 7 1/4 cents
Jul 26 MIAX Wheat  closed at $5.77 1/2, up 30 3/4 cents, currently up 3 1/2 cents
Sep 26 MIAX Wheat  closed at $6.07 1/2, up 5 3/4 cents, currently up 7 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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