The wheat complex is continuing to post weaker trade on Wednesday, with all three exchanges in the red. CBT soft red wheat futures are down 3 to 5 cents on so far. KC HRW futures are 2 to 3 cents lower on Wednesday. There were another 6 deliveries issued overnight. MPLS spring wheat is 3 to 6 cents cents in the red at midday.
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. 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 is at $5.00 3/4, down 4 3/4 cents,
Dec 25 CBOT Wheat is at $5.16 3/4, down 3 1/2 cents,
Sep 25 KCBT Wheat is at $4.90 1/4, up 2 3/4 cents,
Dec 25 KCBT Wheat is at $5.07 3/4, down 2 1/2 cents,
Sep 25 MGEX Wheat is at $5.52 3/4, down 3 1/4 cents,
Dec 25 MGEX Wheat is at $5.68 1/4, down 5 3/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
