The wheat complex pushed the recent strength to 3-year highs in the winter wheat exchanges on Thursday. Chicago SRW contracts ended the session with contracts 8 to 12 ½ cents higher. KC HRW futures posted gains of 10 to 13 ¼ cents on Thursday. MPLS spring wheat saw 5 to 11 ¼ cent gains to close the day.
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. That was a 9-week high but still 30.57% below the same week last year. Mexico was the top buyer of 78,500 MT, with 71,900 MT sold to Japan and 65,000 MT to Vietnam
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 closed at $7.42 3/4, up 12 1/4 cents,
Dec 26 CBOT Wheat closed at $7.60 3/4, up 12 1/2 cents,
Sep 26 KCBT Wheat closed at $8.03 1/2, up 11 1/2 cents,
Dec 26 KCBT Wheat closed at $8.22, up 13 1/4 cents,
Sep 26 MIAX Wheat closed at $7.33 3/4, up 38 3/4 cents,
Dec 26 MIAX Wheat closed at $7.58 3/4, up 37 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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