Wheat Sticking Near Unchanged at Midday
The wheat complex is trading with mixed action on Thursday. Chicago SRW wheat is showing slight losses of 1 to 2 cents at midday. KC HRW contracts are mixed, with September down 1 ¼ cents. There were 32 deliveries against KC wheat. MPLS spring wheat is showing gains of 2 to 3 cents. The markets will be closed on Friday for Independence Day, with the open set for Sunday night.
USDA released their weekly Export Sales report this morning, with 2025/26 wheat sales totaling 585,989 MT in the week ending on June 26. That was on the high side of a Reuters survey of traders looking for between 200,000 and 600,000 MT. That was a MY high and more than double the previous week. The Philippines was the largest buyer of 162,000 MT, with 60,000 MT sold to Thailand.
Census data was released this morning, showing 2.16 MMT (79.4 mbu) of wheat exported in May. That was a 4-year high. The full year wheat export figure was 810 mbu, or 829 mbu including the products vs. USDA’s estimate of 820 in June.
Jul 25 CBOT Wheat closed at $5.56 1/2, up 1/2 cent,
Sep 25 CBOT Wheat closed at $5.62 1/4, down 1 3/4 cents,
Jul 25 KCBT Wheat closed at $5.23, up 1/4 cent,
Sep 25 KCBT Wheat closed at $5.41, down 1 1/4 cents,
Jul 25 MGEX Wheat closed at $6.31 3/4, unch
Sep 25 MGEX Wheat closed at $6.51 1/2, up 2 1/2 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.