The wheat complex is experiencing losses across most contracts as of midweek trading. Chicago SRW futures fell by 8 to 9 cents, while KC HRW futures saw declines of 5 to 7 cents. MPLS spring wheat dropped by 2 cents in front-month contracts. Notably, CBOT Wheat closed on July 26 at $6.58 1/2, down 8 3/4 cents.
Export Sales data from the FAS will be released on Thursday, with analysts predicting old crop wheat business between 0 to 200,000 MT. For the 2026/27 period, sales estimates range from 100,000 to 350,000 MT.
Rains are anticipated in much of the Southern Plains over the next week, although it’s too late for many crops and may hinder early harvest progress.
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