The wheat complex is showing weakness across the three exchanges at midday. Chicago SRW futures are 9 to 10 cents lower on Wednesday. KC HRW futures are 11 to 12 cents in the red at midday. MPLS spring wheat futures are up ¾ cents to 2 ¼ cents lower in the front months. Talks of a possible peace in Ukraine are adding pressure.
Census trade data was delayed due to the shutdown but tallied a total of 2.69 MMT of wheat shipped in August. That was the highest total in 9 years for the moth and a 16.81% increase from last year.
The Ukraine Ag Ministry estimates the country’s wheat crop at 23 MMT, up 0.4 MMT from 2024, with exports expected to reach 17 MMT in 2025/26.
Dec 25 CBOT Wheat is at $5.36 3/4, down 9 3/4 cents,
Mar 26 CBOT Wheat is at $5.49 1/2, down 9 1/2 cents,
Dec 25 KCBT Wheat is at $5.15, down 11 1/4 cents,
Mar 26 KCBT Wheat is at $5.31 1/2, down 11 1/2 cents,
Dec 25 MGEX Wheat is at $5.83 1/2, up 3/4 cent,
Mar 26 MGEX Wheat is at $5.85 3/4, down 2 1/4 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.
