Wheat prices surged across major exchanges at the end of the week, with Chicago SRW contracts rising between 4.75 and 9.5 cents, and September contracts experiencing a 42.5-cent increase, closing at $6.82 3/4. Kansas City HRW futures climbed 10.5 to 15.75 cents, with September contracts up 56 cents, closing at $7.32 1/4. Minneapolitan spring wheat also showed gains, rising between 6.5 and 11.5 cents, bringing September contracts to $6.92 3/4.
Support for these price increases stems from ongoing conflict in the Black Sea region, which has disrupted grain exports due to targeted strikes on ports and vessels. The USDA Export Sales report indicated that for the 2026/27 season, wheat sales totaled 2.057 million metric tons as of July 9, representing 10% of the USDA’s export projection, outpacing the five-year average of 9% for this time period. Meanwhile, the European Commission’s France AgriMer reported that 65% of France’s wheat crop is rated as good/excellent, with harvest completion reported at 92% as of July 13.
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