Wheat trading saw a decline in winter wheat contracts and stability in spring wheat as of July 26, 2023. Chicago SRW contracts closed at $5.85 3/4, down 1 cent, with open interest falling by 11,876 contracts. Key figures for KCBT wheat include July closing at $6.17 1/4 and MIAX wheat at $5.84 1/4, both experiencing slight drops.
Weather conditions are impacting the market, with anticipated rainfall from Montana to Minnesota, affecting spring wheat pricing. Export sales data is set to be released, with estimates for the week of June 18 ranging from 250,000 to 600,000 metric tons.
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