Wheat Futures Surge Amid Black Sea Conflict Escalation

Wheat futures are rebounding strongly by midday Friday, reversing Thursday’s weaker performance with broad gains across major contracts. Chicago SRW futures are climbing 6 to 7 cents, while Kansas City HRW contracts are up 13 to 14 cents. Minneapolis spring wheat is also advancing, rising 6 to 8 cents in front-month contracts.

The rally is driven by increased buying activity linked to escalating tensions in the Black Sea region, as recent strikes have targeted port infrastructure and vessels at sea.

According to Thursday’s weekly USDA Export Sales report, 2026/27 wheat sales reached 2.057 million metric tons as of July 9, representing 10% of the USDA export projection and maintaining a faster-than-average pace compared to the past five years.

France AgriMer’s latest assessment indicates 65% of the French wheat crop is rated good to excellent, unchanged from the prior week. Harvest progress reached 92% completion as of July 13.

Sep 26 CBOT Wheat is at $6.81, up 6 1/4 cents,
Dec 26 CBOT Wheat is at $6.98, up 7 cents,
Sep 26 KCBT Wheat is at $7.29 3/4, up 13 1/4 cents,
Dec 26 KCBT Wheat is at $7.44 1/4, up 13 cents,
Sep 26 MIAX Wheat is at $6.91 1/4, up 6 cents,
Dec 26 MIAX Wheat is at $7.16 1/2, up 8 cents,

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