Wheat is trying to shake off the early Thursday pressure, with contracts mixed across the three exchanges at midday. CBT soft red wheat futures are fractionally to 2 cents higher. Preliminary open interest showed a drop of 14,438 contracts as 13,329 were exiting September ahead of Friday’s first notice day. KC HRW futures are down 2 to 2 ¼ cents at midday. MPLS spring wheat is up 1 to 2 cents following Wednesday weakness.
This morning’s Export Sales report showed wheat sales of 579,794 MT in the week ending on August 21, and in the middle of the trade estimates of 400,000 MT to 700,000 MT. That was a 11.55% jump from last week.
Canadian wheat production is estimated at 35.548 MMT in total, shy of the 35.9 MMT average trade guess. That is down 1.1% from last year. Spring wheat is estimated down 2% to 25.992 MMT. The European Commission estimates the 2025/26 wheat crop at 128.1 MMT, up 0.8 MMT from last month’s number. Stocks are expected to be up 0.5 MMT to 7.6 MMT.
Sep 25 CBOT Wheat is at $5.04, up 1 3/4 cents,
Dec 25 CBOT Wheat is at $5.25, up 3/4 cent,
Sep 25 KCBT Wheat is at $4.84 1/4, down 1 1/4 cents,
Dec 25 KCBT Wheat is at $5.10 3/4, down 2 1/4 cents,
Sep 25 MGEX Wheat is at $5.52 3/4, up 1 3/4 cents,
Dec 25 MGEX Wheat is at $5.78 1/2, up 1 3/4 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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