Wheat Markets Exhibit Mixed Signals Over Week as Harvest Gains Momentum
The wheat market experienced mixed results during Monday’s session. Chicago SRW contracts slipped 0.75¢ and closed 4.25¢ higher overall, while Kansas City HRW futures traded without a clear direction, moving between a 6¢ drop and a 3.50¢ rise at the close.
The weekly NASS Crop Progress report indicated that 93% of the U.S. spring wheat crop had been harvested by Sunday, slightly outpacing the normal growing pace by 1%. Meanwhile, the winter wheat crop remained behind the five-year average for plantings, standing at just 8% complete.
The Export Inspection report recorded global wheat shipments of 456,720 metric tons (1,587 bushels) for the week ending September 10. This total was a 5.9% decline compared with the prior week and 39.8% below the same week last year. Asia dominated demand, with Japan absorbing 118,788 MT, followed by Mexico (111,415 MT) and Thailand (93,003 MT). Annual marketing‑year totals reached 5.68 MMT (208.54 mbu), a 27.8% reduction from the previous year.
APK‑Inform projects the Ukrainian harvest at 25 MMT for the 2026/27 season—a 2.4 MMT increase from their earlier estimate. Forecasted wheat exports stand at 10.5 MMT for the upcoming marketing year.
Dec 26 CBOT wheat closed at $7.22 (down 3.25¢), whereas March 27 closed at $7.39 (1/4¢ up) and down 2¢ respectively.
Dec 26 KCBT wheat closed at $7.92 (½¢ down), while March 27 closed at $8.06 (¾¢ down).
Dec 26 MIAX wheat settled at $7.36 (1/4¢ down); Mar 27 closed at $7.58 (½¢ down).