Wheat Market Experiences Midday Losses Across Futures

The wheat market is trading lower as Friday’s midday session progresses. Chicago SRW futures are showing losses of 5 to 6 cents in the front months, while Kansas City HRW futures are down by up to 5 cents. Minneapolis spring wheat futures are also declining, with contracts 4 to 6 cents in the red so far today.

Export Commitments and Upcoming USDA Reports

The latest Export Sales report indicates total wheat export commitments at 21.631 million metric tons (MMT) as of last Thursday. This figure reflects a 14% increase from the previous year. However, it accounts for only 97% of the USDA’s forecast, with under a month remaining in the marketing year. In comparison, the normal sale pace for this time is approximately 104%.

On Monday, the USDA is set to release its first World Agricultural Supply and Demand Estimates (WASDE) report for the 2025/26 balance sheets. Analysts anticipate seeing old crop world stocks estimated at 261 MMT, while new crop figures are expected to come in at 261.2 MMT.

French Crop Conditions and Current Pricing

According to FranceAgriMer, the French soft wheat crop is currently rated at 74% good/excellent, remaining steady from the previous week.

Current Futures Prices

Jul 25 CBOT Wheat: $5.23 3/4, down 5 1/2 cents

Sep 25 CBOT Wheat: $5.38 1/2, down 5 1/2 cents

Jul 25 KCBT Wheat: $5.20, down 4 3/4 cents

Sep 25 KCBT Wheat: $5.34, down 4 3/4 cents

Jul 25 MGEX Wheat: $5.95 1/4, down 5 1/2 cents

Sep 25 MGEX Wheat: $6.08, down 4 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 are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

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