Wheat posted weakness across the three markets on Thursday, as the reversion lower is extending. Chicago SRW wheat was 7 to 8 cents lower at the close. KC HRW contracts were 5 to 6 cents in the red. MPLS spring wheat was down 2 to 5 cents.
USDA’s Export Sales report showed 255,208 MT of wheat sold in the week of June 19, falling short of analysts estimating 300,000 to 600,000 MT. That was down 40.26% from last week and 61.75% below the same week last year. The largest buyer was Japan at 93,600 MT, with 83,200 MT sold to Mexico.
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Russia’s wheat crop is estimated to total 84.53 MMT this growing season, according to IKAR, which was up 0.7 MMT from the previous estimate. A South Korean mill tendered for 50,000 MT of US wheat overnight. The European Commission estimates the EU wheat production for 2025/26 at 128.2 MMT, a 1.6 MMT increase from the estimate last month. Stocks were down 0.71 MMT to 8.34 MMT.
World wheat production was raised 2 MMT by the International Grains Council to 808 MMT, with consumption up 1 MMT. Ending stocks for 2025/26 were up 2 MMT to 264 MMT.
Jul 25 CBOT Wheat closed at $5.21, down 7 1/4 cents,
Sep 25 CBOT Wheat closed at $5.36 3/4, down 7 3/4 cents,
Jul 25 KCBT Wheat closed at $5.18 1/4, down 6 cents,
Sep 25 KCBT Wheat closed at $5.33 3/4, down 5 1/2 cents,
Jul 25 MGEX Wheat closed at $6.06 3/4, down 4 3/4 cents,
Sep 25 MGEX Wheat closed at $6.25 1/2, down 2 1/2 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.
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