The wheat complex rallied to close the week, with gains recorded across all three major exchanges. Chicago SRW futures advanced 4¾ to 9½ cents across most contracts, lifting the September contract 42½ cents for the week. Kansas City HRW futures climbed 10½ to 15¾ cents on Friday, pushing September up 56 cents weekly. Minneapolis spring wheat kept pace, rising 6½ to 11½ cents, with September gaining 39¼ cents.
Escalating conflict in the Black Sea region continued to underpin prices after strikes on ports and vessels disrupted export flows.
The weekly USDA Export Sales report showed 2026/27 wheat sales at 2.057 million metric tons as of July 9, representing 10% of the USDA export projection and running ahead of the 9% five-year average pace.
Commitment of Traders data revealed managed money slashed its net short position in CBOT wheat futures and options by 25,527 contracts in the week ended July 14, reducing it to 36,798 contracts. In KC wheat, speculators added 5,730 contracts to their net long, bringing it to 17,494 contracts.
FranceAgriMer rated the French wheat crop at 65% good-to-excellent, unchanged from the prior week, with harvest 92% complete as of July 13.
Sep 2026 CBOT Wheat closed at $6.82¾, up 8 cents.
Dec 2026 CBOT Wheat closed at $6.99¾, up 8¾ cents.
Sep 2026 KCBT Wheat closed at $7.32¼, up 15¾ cents.
Dec 2026 KCBT Wheat closed at $7.46¾, up 15½ cents.
Sep 2026 MGEX Wheat closed at $6.92¾, up 6½ cents.
Dec 2026 MGEX Wheat closed at $7.17¾, up 8¼ cents.
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