Wheat Holding on the Higher Side on Wednesday Morning

Wheat is trading with fractional to 2 cent gains on Wednesday morning across the three markets. The wheat complex was lower on the Tuesday session, led by the HRW contracts. Chicago SRW contracts saw Tuesday losses of 6 ¼ to 8 ¾ cents across the board. Open interest was up 2,818 contracts on Tuesday. KC HRW futures were down 8 ½ to 11 cents on the session. MPLS spring wheat posted losses of 6 ¼ to 8 ¼ cents at the close. 

NASS Crop Progress data showed 83% of the US winter wheat crop planted as of 11/1, 1% shy of the 5-year average. Emergence was at 65%, matching the normal pace. Condition ratings were released, coming in at 44% good/excellent, with a Brugler500 index score (100-500 point scale using all 5 USDA categories) at 327. That was 1 point below last year’s initial rating, but above the 313 initial rating in the fall of 2025.

Russia’s IKAR estimates the country’s wheat exports for 2026/27 at 39.5 MMT, down 2.5 MMT from their previous number.

Dec 26 CBOT Wheat  closed at $5.99 3/4, down 6 3/4 cents, currently up 1 1/2 cents

Mar 27 CBOT Wheat  closed at $6.10 3/4, down 8 3/4 cents, currently up 1/2 cent

Dec 26 KCBT Wheat  closed at $6.36 1/4, down 9 3/4 cents, currently up 2 1/4 cents

Mar 27 KCBT Wheat  closed at $6.44 1/2, down 10 1/2 cents, currently up 3/4 cents

Dec 26 MIAX Wheat  closed at $6.20 1/2, down 6 1/4 cents, currently up 1 cents

Mar 27 MIAX Wheat  closed at $6.36 1/2, down 7 1/4 cents, currently up 1 1/4 cents