The wheat complex is holding onto the firmer trade at midday but have pulled off the early double digit strength. Chicago SRW contracts are up 2 to 3 cents so far at midday. KC HRW futures are showing 1 to 3 cent gains on Thursday, pulling off the sharp early strength. MPLS spring wheat is showing steady to fractionally higher trade at midday.
Early on Thursday morning Ukraine proposed a truce with Russia to stop attacking civilian targets on the Black Sea. Russia has not reportedly issued a response.
Weekly Export Sales data from this morning showed net sales of 255,931 MT, which was in the middle of the trade ideas for between 200,000 and 500,000 MT in 2026/27 sales in the week of 8/6. That was the second lowest total for the marketing year and down 64.59% from the same week last year.
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.
Sep 26 CBOT Wheat is at $6.55 1/2, up 2 3/4 cents,
Dec 26 CBOT Wheat is at $6.71 3/4, up 2 cents,
Sep 26 KCBT Wheat is at $7.23 1/2, up 2 3/4 cents,
Dec 26 KCBT Wheat is at $7.38 3/4, up 1 cent,
Sep 26 MIAX Wheat is at $6.73 1/2, up 1/2 cent,
Dec 26 MIAX Wheat is at $6.98, unch,
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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