Wheat Prices Rise Amid Trade Court Ruling on Tariffs

The wheat complex shows gains today, with hard red markets leading. Chicago SRW futures rose by 1 to 2 cents, while Kansas City HRW contracts increased by 4 to 6 cents. Minneapolis spring wheat futures are up by 7 to 8 cents.

A Federal trade court ruled on Wednesday that President Trump’s tariffs were illegal, stating he exceeded his authority. The court has given the President 10 days to halt the tariffs, while the White House has announced plans to appeal the ruling.

Export Sales data will now be released on Friday morning due to the Monday holiday. Traders expect net reductions ranging from 200,000 MT to 100,000 MT in sales for the 2024/25 period, alongside new crop projections of 300,000 to 800,000 MT.

SovEcon estimates Russian wheat exports for 2025/26 will be 40.8 MMT, an increase of 1.1 MMT from the previous estimate. Additionally, private firm ASAP Agri predicts Ukraine’s exports for 2025/26 to be 15 MMT, down from 16.2 MMT in 2024/25.

Jul 25 CBOT Wheat: at $5.31 3/4, up 1 1/2 cents.

Sep 25 CBOT Wheat: at $5.46 3/4, up 1 1/4 cents.

Jul 25 KCBT Wheat: at $5.30 1/2, up 5 1/4 cents.

Sep 25 KCBT Wheat: at $5.44 1/4, up 4 3/4 cents.

Jul 25 MGEX Wheat: at $6.10 1/4, up 7 cents.

Sep 25 MGEX Wheat: at $6.22 1/4, up 7 3/4 cents.

On the date of publication, Austin Schroeder did not have positions in any of the securities mentioned in this article. All information and data are for informational purposes. For more details, view the Barchart Disclosure Policy here.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.