The wheat complex is trading with weakness across the three markets on Friday. Chicago SRW contracts are posting 13 to 18 1/4 losses at midday. KC HRW futures are trading with Friday weakness of 17 to 26 cents. MPLS spring wheat is under pressure, with contracts 13 to 16 cents in the red.
As expected this month, USDA left the US production estimate alone, as they wait for the Small Grains Summary on September 30. The rest of the US balance sheet was left unchanged, as US carryout was steady at 717 mbu.
On the world side, stocks are seen were raised by 3.04 MMT to 276.29 MMT. That same as Russian and Ukrainian exports were cut by a combined 4 MMT, as Australia output was up 3 MMT and Canada was up 1 MMT.
Export Sales data was delayed to this morning due to the Monday holiday. The report showed 2026/27 wheat sales of just 194,233 MT, which was short of trade estimates of between 250,000 and 500,000 MT in the week ending on September 3. That was down 37.64% from last year and 36.39% below the same week last year.
Sep 26 CBOT Wheat is at $7.13 1/2, down 9 3/4 cents,
Dec 26 CBOT Wheat is at $7.23, down 18 1/4 cents,
Sep 26 KCBT Wheat is at $8.04 1/4, up 12 1/2 cents,
Dec 26 KCBT Wheat is at $7.93 1/2, down 25 1/4 cents,
Sep 26 MIAX Wheat is at $7.42 3/4, up 15 3/4 cents,
Dec 26 MIAX Wheat is at $7.48 3/4, down 13 3/4 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.