Wheat is showing steady to 2 cent lower trade on Thursday morning. The wheat complex posted continued losses across all three exchanges on Wednesday. CBT soft red wheat futures were down 5 to 6 cents on the session. KC HRW futures were 1 to 4 cents lower on Wednesday. There were another 6 deliveries issued overnight. MPLS spring wheat was 7 to 8 cents in the red to close out the day.
Weekly Export Sales data will be out this morning, as traders are looking for between 300,000 and 650,000 MT of sales in the week ending on 9/4, after dropping off last week.
USDA’s monthly WASDE report will be released on Friday, as traders are looking for very few changes to the 2025/26 balance sheet. Stocks are seen at 865 mbu, down 4 vs last month if realized. Production will be left alone this month due to the Small Grains report at the end of the month.
Russia’s wheat forecast was raised by another 1.1 MMT from earlier this week accord to Sovecon to 87.2 MMT.
Sep 25 CBOT Wheat closed at $4.95, down 5 3/4 cents, currently unch
Dec 25 CBOT Wheat closed at $5.15, down 5 1/4 cents, currently down 1 1/4 cents
Sep 25 KCBT Wheat closed at $4.85 3/4, down 1 3/4 cents, currently unch
Dec 25 KCBT Wheat closed at $5.07, down 3 1/4 cents, currently down 2 1/2 cents
Sep 25 MGEX Wheat closed at $5.48 1/4, down 7 3/4 cents, currently unch
Dec 25 MGEX Wheat closed at $5.70 1/2, down 7 1/4 cents, currently down 1 1/2 cents
