Wheat Futures Rise Early Wednesday on Strong Overnight Gains

Wheat futures are gaining 3 to 5 cents in early Wednesday trading. The wheat complex showed late-session strength on Tuesday, with Chicago SRW contracts up 3¼ to 7¼ cents. Open interest increased by 3,610 contracts on Tuesday. KC HRW futures closed 1¼ to 4¾ cents higher. Overnight deliveries against July futures totaled four. MPLS spring wheat futures rose 1¼ to 4½ cents across most contracts, with the nearby July contract up 11½ cents.

According to NASS Crop Progress data, 59% of the U.S. winter wheat crop was harvested by Sunday, 8 percentage points above the average. Conditions remained steady at 26% good-to-excellent (gd/ex), with the Brugler500 index rising 1 point to 262. This marked the final crop progress rating for the season. Major HRW states averaged 209, while SRW states averaged 360.

The spring wheat crop reached 54% headed, matching the five-year average pace. Conditions for spring wheat were 57% good-to-excellent, a 2% decline, with the Brugler500 index dropping 1 point to 354. Montana’s ratings rose 16 points, while South Dakota improved by 2. However, Idaho, North Dakota, and Minnesota saw declines of 11, 13, and 6 points, respectively.

Census monthly trade data indicated 1.609 million metric tons (59.13 million bushels) of wheat exports in May, down 13.73% from April and 26.7% compared to the previous year. Full marketing year exports, including products, totaled 912 million bushels.

July 2026 CBOT Wheat closed at $6.09¼, up 3¼ cents, currently up 3¼ cents

September 2026 CBOT Wheat closed at $6.18½, up 4½ cents, currently up 3 cents

July 2026 KCBT Wheat closed at $6.39¾, up 1¼ cents, currently up 4¼ cents

September 2026 KCBT Wheat closed at $6.52¾, up 3 cents, currently up 5¾ cents

July 2026 MIAX Wheat closed at $6.03, up 11½ cents, currently unch

September 2026 MIAX Wheat closed at $6.33, up 3½ cents, currently up 5¾ cents

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