Wheat Holding on the Lower Side of Unchanged to Start Thursday

Wheat is trading with just modest losses on Thursday morning, following midweek losses. The wheat complex saw Wednesday weakness across the three markets, pressured by Black Sea news. Chicago SRW contracts fell 7 ½ to 16 ½ cents at the close. Open interest suggested new selling interest, rising 4,512 contracts. KC HRW futures were 6 ¼ to 18 ¾ cents in the red on the day. OI was up 512 contracts. MPLS spring wheat saw losses of 3 ¼ to 10 ¼ cents on the midweek session.

Pressure was from Russia’s President Putin agreeing to resume peace talks with the US and Ukraine. Grain exports out of the Black Sea have been severely restricted in the last 2 months.

USDA’s Export Sales report will be out this morning, as traders are looking for between 250,000 and 550,000 MT in 2026/27 wheat sales during the week of 10/15. Bookings for 2027/28 are expected to total 0-25,000 MT.

Argentina’s 2026/27 wheat crop is estimated at 23.8 MMT per the Rosario Grains Exchange, a 2.8 MMT increase from their previous number.

Dec 26 CBOT Wheat  closed at $6.28 1/4, down 15 cents, currently down 3/4 cent

Mar 27 CBOT Wheat  closed at $6.42 3/4, down 15 3/4 cents, currently down 1 cent

Dec 26 KCBT Wheat  closed at $6.73, down 18 cents, currently down 1 cent

Mar 27 KCBT Wheat  closed at $6.84 1/4, down 18 3/4 cents, currently down 1 1/4 cents

Dec 26 MIAX Wheat  closed at $6.52 1/2, down 10 1/4 cents, currently down 3/4 cent

Mar 27 MIAX Wheat  closed at $6.70, down 9 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.