The wheat complex is continuing the recent pressure on Wednesday. Chicago SRW futures are trading with 12 to 13 cent losses so far on the day. KC HRW futures are slipping 6 to 7 cents in the front months on Wednesday. MPLS spring wheat is showing 6 to 8 ¼ cent losses at midday.
Crop Progress data showed the US spring wheat crop at 89% planted, 7 percentage points ahead of the 5-year average pace of 79%. Emergence was pegged at 56%. Montana was the only state to lag behind their normal emergence.
The winter wheat crop was at 78% headed, which was 8 percentage points head of normal. Condition ratings were down 1% to 26% gd/ex. The Brugler500 index was down 3 points to 268. The average of the main HRW states was 218, down another 2, the lowest for this specific week on record. The average of the SRW states was up 1 point to 360.
A South Korean flour mill purchased 100,000 MT of wheat from the US and Canada (50/50), in their tender overnight. European Commission data showed the 2026/27 wheat output in the EU projected at 126.9 MMT, a 0.4 MMT drop from the pervious estimate. Stocks are seen at 14.1 MMT, a 0.5 MMT cut from last month. SovEcon estimates the 2026 Russian wheat crop at 90.3 MMT, a 0.6 MMT hike from their previous number.
Jul 26 CBOT Wheat is at $6.22 1/2, down 13 cents,
Sep 26 CBOT Wheat is at $6.36, down 12 1/4 cents,
Jul 26 KCBT Wheat is at $6.70, down 6 1/4 cents,
Sep 26 KCBT Wheat is at $6.81 1/2, down 6 1/2 cents,
Jul 26 MIAX Wheat is at $6.83 1/2, down 8 1/4 cents,
Sep 26 MIAX Wheat is at $7.07 1/2, down 6 3/4 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.
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