Wheat Pops Higher as Spring Wheat Post Double Digit Gains
The wheat complex saw a stronger trade on Thursday, as the spring wheat market lead the charge. Chicago SRW futures were up 3 to 4 cents on the day. Kansas City HRW contracts saw 6 to 7 cent gains. Minneapolis spring wheat futures were 12 to 14 cents in green.
Following a federal trade court ruling that President Trump’s liberation day tariffs were illegal, an appeals court issued a temporary stay on the ruling.
Export Sales data is pushed back to a Friday AM release due to the Monday holiday. Traders are looking for net reductions of 200,000 MT to sales of 100,000 for 2024/25, with new crop at 300,000 to 800,000 MT.
SovEcon estimates the Russian wheat exports for 2025/26 will total 40.8 MMT, a 1.1 MMT increase from their previous number. Private firm ASAP Agri estimates the Ukraine 2025/26 exports at 15 MMT, which is below 16.2 MMT from 2024/25.
Jul 25 CBOT Wheat closed at $5.34, up 3 3/4 cents,
Sep 25 CBOT Wheat closed at $5.48 3/4, up 3 1/4 cents,
Jul 25 KCBT Wheat closed at $5.31 3/4, up 6 1/2 cents,
Sep 25 KCBT Wheat closed at $5.45 3/4, up 6 1/4 cents,
Jul 25 MGEX Wheat closed at $6.15 1/2, up 12 1/4 cents,
Sep 25 MGEX Wheat closed at $6.28, up 13 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.