Wheat is trading with double digit gains in the winter wheats and spring wheat up a nickel. The wheat complex led the grain complex higher on Thursday, holding with gains across the three exchanges. Chicago SRW contracts posted gains of 4 ¾ to 12 cents on the day. Open interest was up 3,111 contracts. There were 2 deliveries against CBT wheat overnight, with 53 for July KC wheat. KC HRW futures saw higher trade at the close, with contracts up 6 ½ to 9 cents. MPLS spring wheat was 2 3/4 to 8 1/2 cents in the green on the session.
Export Sales data from USDA Thursday morning showed a total of 313,103 MT of 2026/27 wheat sales in the week of July 2. That was back up from last week, but still 45.86% below the same week last year. South Korea was the top buyer of 101,000 MT, with 100,000 MT sold to Nigeria, and 68,600 MT to Mexico.
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. In the WASDE, traders are looking for US carryout to be down 26 mbu to 718 mbu.
Taiwan issued a tender for 98,150 MT of US wheat overnight, with a deadline of July 15. Argentina wheat was raised by 0.5 MMT to 20.5 MMT for 2026/27 according to the Rosario Grains Exchange. EU wheat was trimmed by 0.9 MMT to 128.3 MMT, according to the latest Expana number, while Coceral trimmed their EU and UK output by 2.9 MMT to 140.8 MMT. The French wheat crop ratings were down another 3 percentage points to 65% gd/ex this week according to the FranceAgriMer, as harvest was listed at 29% complete. USDA will give their take in Friday’s WASDE report. World stocks are seen down 2.2 MMT to 273.2 MMT.
Jul 26 CBOT Wheat closed at $6.11 1/4, up 11 3/4 cents, currently unch
Sep 26 CBOT Wheat closed at $6.19 3/4, up 12 cents, currently up 10 1/4 cents
Jul 26 KCBT Wheat closed at $6.42 1/4, up 8 cents, currently down 2 1/2 cents
Sep 26 KCBT Wheat closed at $6.54 1/4, up 9 cents, currently up 10 1/4 cents
Jul 26 MIAX Wheat closed at $6.03, unch, currently unch
Sep 26 MIAX Wheat closed at $6.39, up 8 1/4 cents, currently up 5 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
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