The wheat complex fell off the early session highs on Wednesday, as month end profit taking got off to a day early start. Chicago SRW futures were down fractionally to 6 ¾ cents, with deferreds up ¼ to 3 ¼ cents. KC HRW futures were up fractionally to 2 ½ cents, with exception to May, down 6 ½ cents ahead of first notice day. MPLS spring wheat was up 2 ¼ to 4 ½ cents across the board on Wednesday.
Export Sales data will be out on Thursday morning, with traders looking for old crop business at 0-300,000 MT in the week of 4/23. New crop sales at seen in a range of 0-200,000 MT.
USDA’s Ag attaché estimates the Australian 2026/27 wheat crop at 29 MMT, down 6 MMT from last year if realized. The attaché office in Canada estimates the country’s crop at 36.16, down 3.8 MMT from last year.
May 26 CBOT Wheat closed at $6.42 1/4, down 6 3/4 cents,
Jul 26 CBOT Wheat closed at $6.53, down 4 3/4 cents,
May 26 KCBT Wheat closed at $6.90 1/4, down 6 1/2 cents,
Jul 26 KCBT Wheat closed at $7.04 3/4, up 2 1/2 cents,
May 26 MIAX Wheat closed at $7.02 3/4, up 4 1/4 cents,
Jul 26 MIAX Wheat closed at $7.16 1/2, up 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.