Wheat prices declined across all major exchanges at the close on September 26, 2023, with Chicago SRW contracts down by 18 ¼ to 24 ¼ cents. September contracts fell 38 ¾ cents for the week, despite a monthly gain of 50 cents. Kansas City HRW futures saw declines between 13 ¾ to 23 ¼ cents, with a weekly drop of 37 ¾ cents but up 82 ¼ cents for July. Minneapolis spring wheat decreased by 11 to 21 ¾ cents, with a weekly loss of 24 ½ cents.
As of July 28, managed money in Chicago wheat futures reduced their net short by 12,469 contracts, bringing the total down to 6,880. Conversely, in Kansas City wheat, they added 3,289 contracts to their net long, now totaling 33,233 contracts. Additionally, U.S. export sales for 2026/27 recorded 6.979 million metric tons, which is 33% of the USDA’s export estimate and below the average sales pace of 39%.
On July 27, the French soft wheat crop was assessed at 65% rated good/excellent, with harvests considered complete. Specific closing prices include: CBOT September wheat at $6.39 ¼, down 24 ¼ cents; KCBT September at $7.07 ½, down 23 ¼ cents; and MIAX September at $6.90 ¾, down 21 ¾ cents.
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