Wheat Continues Weaker Trade on Thursday

The wheat complex saw weakness across the three markets on Thursday. Chicago SRW contracts were down 3 ½ to 6 ½ cents on the day. KC HRW futures saw losses of 5 ¼ to 9 ½ cents at the close. MPLS spring wheat was 4 ½ to 10 ½ cents in the red on Thursday.

USDA’s Export Sales report was released this morning, with a total of just 239,627 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. Mexico was the top buyer of 98,000 MT, with 49,900 MT sold to Unknown destinations, and 19,000 MT so South Korea. 

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  closed at $6.24 3/4, down 3 1/2 cents,

Mar 27 CBOT Wheat  closed at $6.37 3/4, down 5 cents,

Dec 26 KCBT Wheat  closed at $6.65 3/4, down 7 1/4 cents,

Mar 27 KCBT Wheat  closed at $6.76 1/4, down 8 cents,

Dec 26 MIAX Wheat  closed at $6.42 3/4, down 9 3/4 cents,

Mar 27 MIAX Wheat  closed at $6.60, down 10 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.