Wheat futures fell across multiple exchanges on Thursday, with Chicago SRW futures down 6 to 7 cents and KC HRW futures declining by 4 to 5 cents. The Minneapolis spring wheat futures saw a decline of 4 to 7 cents at midday.
Recent USDA Export Sales data for 2025/26 indicated net cancellations of 642,239 MT, falling short of the expected reductions of 200,000 MT. Meanwhile, sales for 2026/27 were recorded at 838,507 MT, surpassing the projected range of 250,000 to 600,000 MT. Additionally, IKAR has estimated Russian wheat output for 2026 at 91.5 MMT, with exports for 2026/27 projected at 47.5 MMT.
As of midday, the pricing for various wheat futures included: July 26 CBOT Wheat at $5.80 3/4 (down 6 1/2 cents), September 26 KCBT Wheat at $6.31 1/4 (down 4 1/2 cents), and July 26 MIAX Wheat at $6.19 1/4 (down 7 cents).
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