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,
