The wheat complex is showing weakness across the three exchanges at midday. Chicago SRW futures are 9 to 10 cents lower on Wednesday. KC HRW futures are 11 to 12 cents in the red at midday. MPLS spring wheat futures are up ¾ cents to 2 ¼ cents lower in the front months. Talks of a possible peace in Ukraine are adding pressure.
Census trade data was delayed due to the shutdown but tallied a total of 2.69 MMT of wheat shipped in August. That was the highest total in 9 years for the moth and a 16.81% increase from last year.
The Ukraine Ag Ministry estimates the country’s wheat crop at 23 MMT, up 0.4 MMT from 2024, with exports expected to reach 17 MMT in 2025/26.
Dec 25 CBOT Wheat is at $5.36 3/4, down 9 3/4 cents,
Mar 26 CBOT Wheat is at $5.49 1/2, down 9 1/2 cents,
Dec 25 KCBT Wheat is at $5.15, down 11 1/4 cents,
Mar 26 KCBT Wheat is at $5.31 1/2, down 11 1/2 cents,
Dec 25 MGEX Wheat is at $5.83 1/2, up 3/4 cent,
Mar 26 MGEX Wheat is at $5.85 3/4, down 2 1/4 cents,
