On Friday, wheat futures declined across all three exchanges. Chicago SRW contracts were down by 1 ¼ cents, closing at $6.81 ½, while September contracts showed a weekly gain of 6 ¾ cents. In KC, HRW futures fell 1 ¾ to 6 cents, with September gaining 2 cents for the week, closing at $7.56 ¼. MPLS spring wheat saw a drop of 2 ½ to 4 cents, despite a weekly rally of 20 cents for September, which closed at $6.98 ¼.
The CFTC’s Commitment of Traders report indicated that managed money reduced their net short position in CBT wheat by 4,916 contracts to 26,485. Conversely, in KC wheat, they added 7,173 contracts to reach a net long position of 34,835. Meanwhile, the USDA reported that wheat sales for 2026/27 are at 7.936 million metric tons, a 31% decline from last year.
Additionally, Sovecon estimates Russia’s wheat crop for 2026 at 88.2 million metric tons, marking a slight decrease of 0.3 million metric tons from previous estimates.
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