The wheat complex is facing pressure from money coming off the table into the weekend following Black Sea news. Chicago SRW contracts are down 18 to 20 cents at midday. KC HRW futures are down 17 to 18 cents on the day. MPLS spring wheat are falling back 17 to 18 cents on the session.
Ukraine issued a proposal to keep vessels moving in the Black Sea, though there has been no formal agreement between the Ukraine and Russia.Â
Export Sales data from FAS has the new crop accumulated sales now at 6.68 MMT, which is down 26% from last year. That is 32% of the USDA export projection and lags the 37% 5-year average.
The annual spring wheat tour results were released on Thursday, with an average estimate of 48 bpa. That was below the 49.0 bpa last year but above the 45.8 bpa average from the last 5 years.
IKAR estimate the Russian wheat crop at 90 MMT in their latest projection, with 2026/27 exports seen at 44.5 MMT. The French wheat crop was estimated at 65% gd/ex in the latest FranceAgriMer update, though harvest was pegged at 99% complete.Â
Sep 26 CBOT Wheat  is at $6.76 1/4, down 20 cents,
Dec 26 CBOT Wheat  is at $6.94, down 19 3/4 cents,
Sep 26 KCBT Wheat  is at $7.42 1/4, down 17 1/2 cents,
Dec 26 KCBT Wheat  is at $7.58 1/4, down 17 1/2 cents,
Sep 26 MIAX Wheat  is at $7.12 1/4, down 17 3/4 cents,
Dec 26 MIAX Wheat  is at $7.36, down 17 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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