The wheat complex followed Tuesday’s limit gains with the three exchanges lower on Wednesday. Chicago SRW futures closed with contracts steady to 3 ½ cents lower. KC HRW futures were down 4 ¾ to 7 ¾ cents at the close. MPLS spring wheat was down 4 to 4 ¼ cents across most contracts.
The first day (northern KS) of the Kansas Wheat Quality Tour showed an average of 38.3 bpa yield, the lowest day 1 total for the tour since 2023 and below the 50.5 bpa last year. Day 2 is in the Central and southwest part of the state.
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USDA’s Export Sales report will be out on Thursday morning with analysts looking for 2025/26 sales in a range of 50,000-150,000 MT. Sales for new crop are seen in a range of 100,000 MT to 350,00 MT.
French soft wheat exports are estimated to total 7.75 MMT within the EU and 7.25 MMT outside the EU according to France ArgiMer, with combined exports up 0.2 MMT, from the April estimate. Ending stocks are seen down 0.03 at 3.28 MMT. The Rosario Grains Exchanges projects the 2026/27 Argentina wheat crop at 18-19 MMT, a sharp decline from 29.5 MMT in the year prior.
Jul 26 CBOT Wheat closed at $6.75 1/2, down 3 1/2 cents,
Sep 26 CBOT Wheat closed at $6.88 1/4, down 3 1/4 cents,
Jul 26 KCBT Wheat closed at $7.24 3/4, down 6 1/2 cents,
Sep 26 KCBT Wheat closed at $7.36, down 6 1/4 cents,
Jul 26 MIAX Wheat closed at $7.20 3/4, down 4 1/4 cents,
Sep 26 MIAX Wheat closed at $7.41 3/4, down 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.