The wheat complex posted gains across the three exchanges on Thursday, following increased Black Sea tensions. Chicago SRW contracts were 2 ¾ to 7 ½ cents higher at the close. KC HRW futures were 5 1/4 to 8 1/2 cents in the green on the day. MPLS spring wheat was up 6 ½ to 7 1/2 cents.
Overnight, there was a Ukrainian drone strike on a Russian grains export terminal in Taman on the Kerch Strait, causing significant damage.
Export Sales data showed 285,165 MT of 2026/27 MT wheat sold in the week of 7/23. That was a marketing year low and was less than half of the same week last year. Indonesia was the buyer of 70,000 MT, with 60,000 MT to the Philippines.
European Commission data showed expected EU production at 124.4 MMT, a drop of 1.9 MMT from their previous estimate. Exports are seen at 29 MMT, down 1 MMT, with ending stocks estimated at 12.9 MMT, a 0.9 MMT drop from last month.
Sep 26 CBOT Wheat closed at $6.63 1/2, up 2 3/4 cents,
Dec 26 CBOT Wheat closed at $6.81 1/2, up 3 3/4 cents,
Sep 26 KCBT Wheat closed at $7.30 3/4, up 5 1/4 cents,
Dec 26 KCBT Wheat closed at $7.46 3/4, up 6 cents,
Sep 26 MIAX Wheat closed at $7.12 1/2, up 9 cents,
Dec 26 MIAX Wheat closed at $7.36 1/2, up 10 1/4 cents,
