The Chicago wheat market is experiencing a decline that began on July 3, with September contracts falling to $5.34 3/4 per bushel, down 6 1/2 cents. The drop is attributed to a stronger US dollar index and increased Northern Hemisphere harvest supplies, with Kansas City and Minneapolis wheat contracts also experiencing similar downturns.
As reported by the USDA, net wheat export sales for the 2025/26 season were 494,400 metric tons, falling within the expected range of 300,000 to 700,000 MT, with Mexico and Venezuela as the leading destinations. Meanwhile, FranceAgriMer projects French soft wheat ending stocks at 3.87 million metric tons, up from 2.33 million MT last year. The Rosario Grains Exchange estimates Argentina’s 2025/26 wheat crop at 20 million metric tons, down slightly from 20.7 million MT in the previous year.
