The wheat complex is extending the gains to 3-year highs in the winter wheat on Thursday. Chicago SRW contracts are 9 to 10 cents higher on Thursday. KC HRW futures are showing 10 to 12 cent gains in the front months. Both KC and CBT wheat markets have expanded limits of 70 cents today. MPLS spring wheat us showing 5 to 8 cent gains at midday.
The Black Sea conflict continues to remain elevated following Wednesday’s reports that Russia is looking to escalate. The next 4 month period is normally peak shipment season.
Export Sales data from this morning showed a total of 402,531 MT of 2026/27 wheat sold in the week of 8/20, which was in the middle of analysts’ expectations of 250,000 to 550,000 MT. That was a 9-week high but still 30.57% below the same week last year.
EU wheat production was estimated at 124.2 MMT according to the European Commission, down 0.2 MMT from last month. Ending stocks are seen at 11.3 MMT, a drop of 1.6 MMT from last month’s estimate.
Sep 26 CBOT Wheat is at $7.40, up 9 1/2 cents,
Dec 26 CBOT Wheat is at $7.57 1/2, up 9 1/4 cents,
Sep 26 KCBT Wheat is at $8.02 1/4, up 10 1/4 cents,
Dec 26 KCBT Wheat is at $8.20, up 11 1/4 cents,
Sep 26 MIAX Wheat is at $7.29, up 7 1/2 cents,
Dec 26 MIAX Wheat is at $7.53 1/4, up 5 1/4 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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