Wheat Futures Edge Higher on Strong Export Sales, Revised Production Forecasts

The wheat market gained modest momentum late in the session, ending mostly higher on Thursday. Chicago SRW futures rose between 4½ and 5½ cents, while KC HRW contracts advanced 3 to 5 cents. Minneapolis spring wheat showed mixed performance, with the nearby July contract up 3 cents, but other contracts were lower by 1¼ to 3¼ cents.

Export sales data released by the USDA this morning showed 504,489 metric tons of wheat sold for the week ending June 18, representing a 25.86% increase from the prior week and nearly double the volume reported a year earlier. Mexico topped the list of buyers with 204,400 MT, followed by Japan, which purchased 118,700 MT.

The Monthly International Grains Council report projected world wheat production for 2026/27 at 821 MMT, up 1 MMT from the previous estimate. New‑crop inventories fell by 2 MMT to 280 MMT, while old‑crop stocks were reduced by 2 MMT to 286 MMT.

According to European Commission data, EU wheat stocks for 2026/27 are now expected at 13.8 MMT, down 0.3 MMT from last month’s forecast. Production is also revised downward by 0.6 MMT to 126.3 MMT.

Jul 26 CBOT Wheat closed at $5.91, up 5 ¼ cents.

Sep 26 CBOT Wheat closed at $6.01 ½, up 5 ½ cents.

Jul 26 KCBT Wheat closed at $6.20 ½, up 3 ¼ cents.

Sep 26 KCBT Wheat closed at $6.30 ½, up 5 cents.

Jul 26 MIAX Wheat closed at $5.87 ¼, up 3 cents.

Sep 26 MIAX Wheat closed at $6.15, down 1 ¾ cents.

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