Wheat Markets Trend Upward on Wednesday Amid Mixed Thursday Trading Start

Winter wheat contracts remain down 3-5 cents on Thursday’s early trade, while spring wheat futures hold gains. The wheat sector drove a broader market rally on Wednesday, with front-month contracts climbing double digits. Chicago SRW futures simplified corrections, rising 11-17 cents for immediate deliveries and 5-9 cents for deferred contracts. Open interest fell by 2,912 contracts, signaling short covering activity. KC HRW futures advanced 10.5-18.75 cents, alongside a 5,888-contract decline in open positions. MPLS spring wheat closed up 9.75-13.25 cents. Final Friday trading will conclude the week ahead of Juneteenth observances.

Export vessel data revised Thursday revealed 2026/27 export volumes landed between 300,000-700,000 metric tons, per Bloomberg analyst consensus estimates.

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FranceAgrimer revised French wheat ending stocks to 3.50 MMT, reflecting a 0.22 MMT rise from prior projections. Algerian wheat tenders procured 800,000 MT on Wednesday. CBOT Wheat contracts closed at $6.12¾ (+16.75¢) early Thursday but reversed to trade -3.75¢ currently. September contracts (Sep 26) settled at $6.21¼ (+17¢), -4¼¢ on the day. KCBT July (Jul 26) closed at $6.52½ (+18.75¢), -3¢ in late efficiency. September KCBT (Sep 26) ended at $6.59¾ (+18.75¢), -3¼¢ post-bell. MIAX July contracts peaked at $6.26½ (+13.25¢), currently +4½¢. September MIAX (Sep 26) remains up 0.25¢ at $6.48¼.



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