The wheat market experienced declines on Wednesday, with Chicago SRW futures losing between 2¾ to 9¼ cents. Kansas City HRW futures fell by 4¾ to 9¾ cents, while Minneapolis spring wheat prices decreased by 2½ to 7¾ cents. The December 2026 CBOT wheat closed at $7.08½, down 8¾ cents.
Traders are closely monitoring the ongoing Ukraine/Russia conflict, following Ukraine’s President Zelenskyy expressing readiness for a ceasefire related to energy targets. Additionally, the USDA’s Export Sales report is expected Thursday, with wheat bookings projected between 350,000 MT and 600,000 MT for the week ending September 17. Concurrently, Coceral estimates UK and EU wheat crops at 137.5 million metric tons, a reduction of 3.3 million metric tons from prior forecasts.
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