The wheat complex is reverting from Thursday weaker trade to post midday gains across the complex. Chicago SRW contracts are up 6 to 7 cents in most contracts. KC HRW futures are rallying 13 to 14 cents across most contracts. MPLS spring wheat is joining in on the strength, up 6 to 8 cents in the front months.

Continued buying from the escalating Black Sea conflict is supportive after strikes have move towards the ports and vessels on the water.

The weekly USDA Export Sales report from Thursday shows 2026/27 wheat sales now at 2.057 MMT as of July 9, which was 10% of the USDA export projection and ahead of the 9% average pace over the last 5 years.

The France AgriMer estimates French wheat crop at 65% good/excellent, steady from the previous week. Harvest was taken to 92% complete as of July 13. 

Sep 26 CBOT Wheat  is at $6.81, up 6 1/4 cents,

Dec 26 CBOT Wheat  is at $6.98, up 7 cents,

Sep 26 KCBT Wheat  is at $7.29 3/4, up 13 1/4 cents,

Dec 26 KCBT Wheat  is at $7.44 1/4, up 13 cents,

Sep 26 MIAX Wheat  is at $6.91 1/4, up 6 cents,

Dec 26 MIAX Wheat  is at $7.16 1/2, up 8 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.