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,
