Wheat Weakness Extending on Friday

Wheat is falling across the three exchanges on Friday morning. The wheat complex faded some early Thursday gains, to close the session with losses. Chicago SRW contracts were 1 ¾ to 4 ¾ cents lower across most contracts on Thursday. Open interest was down 8,327 contracts. KC HRW futures slipped back 1 ¼ to 6 cents across the board. OI was down 192 contracts on Thursday. MPLS spring wheat was 3 ¼ to 5 cents lower.

USDA’s Export Sales report will be released this morning due to the Monday holiday, with traders looking to see if the drop in US prices has picked up any demand. Analysts surveyed by Reuters are looking for between 300,000 and 600,000 MT in wheat sales during the week of 10/8.

The EU wheat crop was estimated at 126.1 MMT this month, steady with the previous number. They expected the acreage for 2027 to be down nearly 2% from the 52.9 million planted acres in 2026.

The FranceAgriMer estimates the country’s wheat crop at 15% planted by October 12. 

Dec 26 CBOT Wheat  closed at $6.70, down 3 1/4 cents, currently down 8 1/4 cents

Mar 27 CBOT Wheat  closed at $6.84 1/4, down 2 1/4 cents, currently down 8 cents

Dec 26 KCBT Wheat  closed at $7.13, down 2 cents, currently down 6 1/4 cents

Mar 27 KCBT Wheat  closed at $7.24 3/4, down 2 cents, currently down 6 1/4 cents

Dec 26 MIAX Wheat  closed at $6.86, down 4 cents, currently down 2 cents

Mar 27 MIAX Wheat  closed at $7.04 1/2, down 4 3/4 cents, currently down 2 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.