The wheat market is experiencing gains on Wednesday, with Chicago SRW contracts rising 7 to 8 cents and KC HRW futures up by 5 to 6.5 cents. MPLS spring wheat is mixed, showing a decline of 3 to 2.5 cents on some contracts. This uptick comes amid forecasts of rainfall from Montana to Minnesota, which is expected to impact the spring wheat market.
Export Sales data will be released on Thursday, with analysts anticipating 2026/27 sales for the week of June 18 to be between 350,000 and 600,000 metric tons. Key contract prices include July 26 CBOT Wheat at $5.94 3/4 (up 8 cents), September 26 CBOT Wheat at $6.04 1/2 (up 7.5 cents), and July 26 KCBT Wheat at $6.23 1/4 (up 5 cents).
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