Wheat Showing Wednesday Morning Losses
The wheat complex is down across the winter wheat markets on Wednesday, with MPLS trying to hold up. Wheat was under pressure on Tuesday, as contracts closed with losses across the three markets. Chicago SRW futures were 8 to 9 cents in the red at the close. Tuesday’s preliminary open interest was up 2,402 contracts. KC contracts were down 7 to 8 cents on the day. Preliminary OI was up 3,698 contracts on Tuesday. MPLS spring wheat was just 3 to 4 cents lower in the front months.
On Wednesday morning, President Trump posted that tariffs on India will rise to 25% on August 1, citing the trade deficit and their buying of Russian crude oil.
EU soft wheat exports are pegged at 803,256 MT from July 1 to July 27 according to the EU Commission, which is well below the 2.248 MMT last year in the same time period.
Sovecon estimate the Russian wheat export total for 2025/26 at 43.3 MMT, up from the 38.3 MMT previous estimate.
Sep 25 CBOT Wheat closed at $5.29 3/4, down 8 3/4 cents, currently down 3 ½ cents
Dec 25 CBOT Wheat closed at $5.50, down 8 3/4 cents, currently down 4 cents
Sep 25 KCBT Wheat closed at $5.18 1/2, down 7 1/2 cents, currently down ½ cent
Dec 25 KCBT Wheat closed at $5.39 1/2, down 7 1/4 cents, currently down 1 ¼ cents
Sep 25 MGEX Wheat closed at $5.78 1/2, down 4 cents, currently unch
Dec 25 MGEX Wheat closed at $6.00, down 3 cents, currently up ¼ cent
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.