The wheat complex led the bulls charge on Wednesday, with contracts showing double digit gains across the front months. Chicago SRW contracts were rallying, as front months were up 11 to 17 cents and deferreds 5 to 9 cents higher. KC HRW futures were 10 ½ to 18 3/4 cents higher. MPLS spring wheat was up 9 3/4 to 13 1/4 cents at the close. The market will round out the week on Thursday, with Friday off in observance of Juneteenth.
Export Sales data will be updated on Thursday, with traders looking for between 300,000 and 700,000 MT in 2026/27 sales according to a Reuters survey of analysts.
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The FranceAgriMer estimates the French wheat ending stocks at 3.5 MMT, a 0.22 MMT increase from the May estimate.
Algeria has purchased an estimated 800,000 MT of wheat in their tender on Wednesday.
Jul 26 CBOT Wheat closed at $6.12 3/4, up 16 3/4 cents,
Sep 26 CBOT Wheat closed at $6.21 1/4, up 17 cents,
Jul 26 KCBT Wheat closed at $6.52 1/2, up 18 3/4 cents,
Sep 26 KCBT Wheat closed at $6.59 3/4, up 18 3/4 cents,
Jul 26 MIAX Wheat closed at $6.26 1/2, up 13 1/4 cents,
Sep 26 MIAX Wheat closed at $6.48 1/4, up 13 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.