The wheat complex is trading with sharp midday gains across the three exchanges. Chicago SRW contracts were 13 ¾ to 22 ½ cents higher across the board on the day. KC HRW futures posted 14 ½ to 21 ¾ cent gains at the close. MPLS spring wheat was 13 to 15 1/4 cents higher.
Overnight, there were Ukrainian drone strikes on Russia’s Novorossiysk port, halting operations at the country’s largest port. Russia responded this morning by striking a vessel in Ukraine’s Odesa port.
NASS Crop Production data from this morning showed 1.531 bbu of wheat output for 2026, down 5 mbu from July. Winter wheat was steady with last month at 990 mbu, with HRW at 463, mbu, down 8 mbu, with SRW unchanged at 287 mbu. Spring wheat was tallied at 474 mbu, down just 1 mbu from last month, with durum at 66 mbu and dropping 5 mbu.
WASDE data tallied ending stocks for 2026/27 at 717 mbu, down 5 mbu due to the production reduction. World ending stocks were raised by 0.41 MMT to 273.25 MMT. That was due to a 1 MMT increase to Canada, and 1.4 MMT hike to Ukraine, with the EU down 1.8 MMT. Russian exports were trimmed by 1.5 MMT, with Ukraine down 0.5 MMT.
Weekly Export Sales data will be released on Thursday, with traders looking for between 200,000 and 500,000 MT in 2026/27 sales.
Sep 26 CBOT Wheat closed at $6.52 3/4, up 22 1/2 cents,
Dec 26 CBOT Wheat closed at $6.69 3/4, up 21 1/2 cents,
Sep 26 KCBT Wheat closed at $7.20 3/4, up 21 1/2 cents,
Dec 26 KCBT Wheat closed at $7.37 3/4, up 21 3/4 cents,
Sep 26 MIAX Wheat closed at $6.73, up 13 3/4 cents,
Dec 26 MIAX Wheat closed at $6.98, up 13 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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