Wheat Losses Extend to Thursday

The wheat complex is extending the losses to Thursday across the three markets. Chicago SRW contracts are down 1 to 2 ¼ cents on the day. KC HRW futures are showing 4 to 5 cent losses at midday. MPLS spring wheat is down 6 cents in the front months on Thursday.

USDA’s Export Sales report was released this morning, with a total of just 239,627 MT, falling shy of trade estimates looking for between 250,000 and 550,000 MT during the week of 10/15. That was a 6-week low for sales and down 29.79% from the same week last year.

NOAA’s 7-day forecast showed upwards of 2 inches expected from the TX panhandle through western KS, and NE in the next week. 

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  is at $6.27 1/4, down 1 cents,

Mar 27 CBOT Wheat  is at $6.40 1/2, down 2 1/4 cents,

Dec 26 KCBT Wheat  is at $6.69, down 4 cents,

Mar 27 KCBT Wheat  is at $6.79 1/2, down 4 3/4 cents,

Dec 26 MIAX Wheat  is at $6.45 1/2, down 6 cents,

Mar 27 MIAX Wheat  is at $6.64, down 6 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.