Wheat is showing slightly mixed trade on Thursday, with Chicago holding higher. The wheat complex closed the midweek session with weakness across the three markets. Chicago SRW contracts closed with Wednesday losses of 7 ¾ to 10 ¾ cents. Open interest rose 3,221 contracts on Wednesday. There were 25 delivery notices for July futures overnight. KC HRW futures posted 5 ½ to 7 ¾ cent losses. Open interest was down 1,885 contracts. MPLS spring wheat was steady to down 3 cents across most contracts.
Export Sales data from USDA will be released this morning, as analysts are looking for between 250,000 and 600,000 MT in 2026/27 wheat sales in the week of July 2.
Don’t Miss a Day: From crude oil to coffee, sign up free for Barchart’s best-in-class commodity analysis.
Crop Production data will be updated on Friday, with a Bloomberg poll of analysts looking for all wheat production to total 1.527 bbu, down 17 mbu from last month. All winter wheat production is seen 1.004 bbu, a 26 mbu drop from last month, with spring wheat at 458 mbu.
SovEcon trimmed their wheat production estimate by 0.2 MMT for 2026/27 to 46.5 MMT, which is slightly above the 46.2 MMT projected for last year.
Jul 26 CBOT Wheat closed at $5.99 1/2, down 9 3/4 cents, currently unch
Sep 26 CBOT Wheat closed at $6.07 3/4, down 10 3/4 cents, currently up 1/4 cents
Jul 26 KCBT Wheat closed at $6.34 1/4, down 5 1/2 cents, currently down 4 1/4 cents
Sep 26 KCBT Wheat closed at $6.45 1/4, down 7 1/2 cents, currently down 1/4 cent
Jul 26 MIAX Wheat closed at $6.03, unch, currently unch
Sep 26 MIAX Wheat closed at $6.31 3/4, down 2 1/4 cents, currently 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.