The wheat complex failed follow through from Tuesday’s strength on Wednesday, with weakness. Chicago SRW contracts were down 13 ¾ to 17 ¾ cents across the board. KC HRW futures posted losses of 13 ½ to 17 ¾ cents at the Wednesday close. MPLS spring wheat saw losses of 6 ¾ to 9 ½ cents on the day.
Exports Sales data will be released on Thursday, with traders looking for between 200,000 and 500,000 MT of wheat sold in the week ending on October 1.
Analysts surveyed by Bloomberg are looking for US wheat stock to be raised by 4 mbu to 721 mbu in the WASDE this Friday.
SovEcon estimates the Russian wheat crop at 87.5 MMT for 2026, below their previous number by 0.7 MMT.
Dec 26 CBOT Wheat closed at $6.86 1/2, down 17 3/4 cents,
Mar 27 CBOT Wheat closed at $7.01, down 16 1/2 cents,
Dec 26 KCBT Wheat closed at $7.38 1/2, down 17 3/4 cents,
Mar 27 KCBT Wheat closed at $7.52, down 17 cents,
Dec 26 MIAX Wheat closed at $7.10 1/4, down 9 1/2 cents,
Mar 27 MIAX Wheat closed at $7.29 3/4, down 8 cents,