The wheat complex is trading with midday losses on Wednesday. Chicago SRW contracts are posting 2 to 8 cent losses on Wednesday. KC HRW futures are showing 3 to 7 cent lower trade at midday. There were 4 deliveries against July futures overnight. MPLS spring wheat is down 2 to 3 cents across most contracts.
Export Sales data from USDA will be released on Thursday morning, as analysts are looking for between 250,000 and 600,000 MT in 2026/27 wheat sales in the week of July 2.
Monthly trade data from Census showed 1.609 MMT (59.13 mbu) of wheat in May, which was 13.73% below April and a 26.7% drop from last year. Full marketing year exports, including products were 912 mbu.
SovEcon trimmed their wheat production estimate by 0.2 MMT for 2026/27 to 46.5 MMT, which is slightly above the 46.2 MMT projected for last year.
Jul 26 CBOT Wheat is at $6.07 1/4, down 2 cents,
Sep 26 CBOT Wheat is at $6.11 1/2, down 7 cents,
Jul 26 KCBT Wheat is at $6.36 1/4, down 3 1/2 cents,
Sep 26 KCBT Wheat is at $6.45 3/4, down 7 cents,
Jul 26 MIAX Wheat is at $6.03, unch,
Sep 26 MIAX Wheat is at $6.31, down 2 cents,
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