Wheat is trading with Thursday morning gains across most contracts of 2 to 4 cents. The wheat complex was higher across the three exchanges on Wednesday. Chicago SRW contracts were 4 to 11 ¼ cents higher on the Wednesday session. Open interest suggested a rotation of ownership, down just 244 contracts. KC HRW futures saw 4 ¾ to 12 ¼ cent gains across the board on Wednesday. There were 38 deliveries against July KC wheat overnight, with 6 issued against July CBT wheat. MPLS spring wheat was 9 ¾ to 13 ½ cents higher at the Wednesday close.
The market will observe the July 4th Independence Day Holiday on Friday, for a 3-day weekend. Sunday night will be a normal open.
USDA’s weekly Export Sales report will be out this morning, as traders are looking for between 300,000 and 600,000 MT of 2026/27 wheat sales in the week of June 26.
Saudi Arabia issued a tender for 655,000 MT of wheat this morning for delivery this fall.
Jul 26 CBOT Wheat closed at $5.92, up 11 1/4 cents, currently up 3/4 cent
Sep 26 CBOT Wheat closed at $6.00, up 10 3/4 cents, currently up 4 cents
Jul 26 KCBT Wheat closed at $6.23 1/4, up 12 1/4 cents, currently down 2 1/2 cents
Sep 26 KCBT Wheat closed at $6.35, up 9 3/4 cents, currently up 3 1/4 cents
Jul 26 MIAX Wheat closed at $5.90, up 13 1/2 cents, currently unch
Sep 26 MIAX Wheat closed at $6.19 1/2, up 12 cents, currently up 1 1/2 cents
