Wheat prices are rising, with contracts up between 6 to 11 cents on Friday, reaching three-year highs in winter wheat exchanges. On Thursday, Chicago SRW contracts closed up 8 to 12.5 cents, while Kansas City HRW futures gained 10 to 13.25 cents. Open interest rose by 4,998 contracts, although September saw a decline of 6,943 contracts ahead of First Notice Day on Monday.
Export sales for the week ending August 20 totaled 402,531 metric tons, marking a nine-week high but down 30.57% from the same week last year. The top buyers included Mexico with 78,500 metric tons, Japan with 71,900 metric tons, and Vietnam with 65,000 metric tons. The European Commission estimates EU wheat production at 124.2 million metric tons, a decrease of 0.2 million from the previous month, while Ukraine’s Agriculture Minister predicts a decline in the 2027 winter wheat crop.
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