Wheat continues to be on the selling side of things, with the three markets showing weakness. The wheat complex fell lower on the Wednesday session. CBT soft red wheat futures saw losses of 6 to 9 cents. The CBOT showed another 8 deliveries issued for September wheat overnight. Wednesday’s Preliminary open interest was up 15,672 contracts, suggesting new selling interest. KC HRW futures were fractionally to a penny lower in the front months. Preliminary OI was up 9,377 contracts. MPLS spring wheat was down 5 to 7 cents across most nearby contracts at the close.
The weekly Crop Progress report indicated 72% of the spring wheat crop was harvested by Sunday, 1 percentage point above normal. Winter wheat harvest was removed this week, with the crop’s planting progress for the 2026 crop expected next week.
Due to the Monday holiday, the USDA Export Sales report will be delayed until Friday morning.
The next week showed 1 to 2 inches across much of the Southern Plains over the next week according to the NOAA 7-day forecast.
Sep 25 CBOT Wheat closed at $5.04, down 9 cents, currently down 8 3/4 cents
Dec 25 CBOT Wheat closed at $5.22, down 6 1/4 cents, currently down 5 3/4 cents
Sep 25 KCBT Wheat closed at $4.82 3/4, down 1/2 cent, currently up 2 cents
Dec 25 KCBT Wheat closed at $5.10 1/4, down 1 cent, currently down 5 1/4 cents
Sep 25 MGEX Wheat closed at $5.54 1/2, down 5 3/4 cents, currently unch
Dec 25 MGEX Wheat closed at $5.73, down 7 cents, currently down 1 cent
