Wheat Midday Futures Present Mixed Signals

Wheat contracts show a mixed performance in midday trading on Friday. Chicago SRW futures remain fractionally unchanged, while KCBT spring wheat prices edge up by 2 to 3 cents. MPLS spring wheat trades mixed, fluctuating by up to 2 cents.

U.S. Farm Service Agency (FAS) reported new crop export sales of 4.591 million métricas tons (MMT) as of June 4 for the 2026/27 marketing year, representing 21.77% of the USDA’s projected total. This pace lags behind the 5-year average of 23.18%.

Monthly Crop Production data revealed a 18 million bushel reduction in winter wheat production compared to prior estimates, with yields trimmed by 0.8 bushels per acre to 46.8 bushels per acre. Robust new crop US carryout stood at 744 million bushels after an 18 million bushel drawdown in old stocks.

FranceAgriMer’s latest assessment showed 77% of the soft wheat crop in good or excellent condition, up 1 percentage point week-over-week. Conversely, durum crops declined to 64% in good or better condition, down 1 percentage point.

Key futures prices as of publication: Jul 26 CBOT Wheat at $5.87 (+1/4 cent), Sep 26 CBOT Whea at $5.98 (-1/4 cent); Jul 26 KCBT Wheat at $6.37 1/4 (+2 1/2 cents), Sep 26 KCBT Wheat at $6.43 3/4 (+2 1/2 cents). Jul 26 MIAX Wheat traded at $6.20 (+1/2 cent) while Sep 26 MIAX Wheat fell to $6.44 1/4 (-1 1/4 cent).

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