Wheat prices surged early Monday, with Chicago SRW contracts increasing by 7 to 9 cents, KC HRW futures up 13 to 15 cents, and MPLS spring wheat rising 8 to 9 cents. September futures for wheat closed at $6.39 3/4, up 8 1/2 cents, while KC December wheat settled at $7.30 1/2, an increase of 13 cents.
According to the Weekly Commitment of Traders data, managed money in CBT wheat futures and options increased their net short position by 16,906 contracts to 23,786 contracts as of August 4. The upcoming NASS report on Wednesday is expected to show U.S. wheat production at 1.525 billion bushels, a decrease of 11 million bushels from July.
Additionally, France’s soft wheat crop is estimated at 31.9 million metric tons, reflecting a minor decrease of 0.1 million from last month, while APK-Inform has cut Ukraine’s wheat export forecast to 13.5 million metric tons for the 2026/27 season.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
