The wheat complex is holding higher on Wednesday, after retreating from early highs. Chicago SRW futures are trading with 1 to 3 cent gains at midday. KC HRW futures are 7 to 8 cents in the green on Wednesday. MPLS spring wheat is 4 to 7 cents higher in the front months.
The next 7-day’s via the NOAA forecast looks dry in much of Kansas, with parts of OK and TX seeing 1 to 2 inches. With OK at 43% headed and TX at 65%, that may come too late.
USDA’s Ag attaché estimates the Australian 2026/27 wheat crop at 29 MMT, down 6 MMT from last year if realized. The attche office in Canada estimate the country’s crop at 36.16, down 3.8 MMT from last year.
May 26 CBOT Wheat is at $6.50, up 1 cent,
Jul 26 CBOT Wheat is at $6.60 1/2, up 2 3/4 cents,
May 26 KCBT Wheat is at $7.03 3/4, up 7 cents,
Jul 26 KCBT Wheat is at $7.09 3/4, up 7 1/2 cents,
May 26 MIAX Wheat is at $7.04 1/2, up 7 cents,
Jul 26 MIAX Wheat is at $7.17 1/2, up 4 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.
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