Wheat Futures Edge Higher After Prior Session Selloff

Key Moments

Thursday Morning Trade

Wheat futures are posting a mild rebound on Thursday morning, with contracts firmer across all three major U.S. wheat markets. The move follows a broad-based decline in the previous session that weighed on Chicago soft red winter (SRW), Kansas City hard red winter (HRW), and Minneapolis spring wheat futures.

Prior Session Performance

The wheat complex extended its downward trend on Wednesday, with losses recorded across the board. Chicago SRW futures finished Wednesday lower by 11 to 15 3/4 cents. Open interest increased by 6,945 contracts during that session, indicating additional engagement despite the price pressure.

Kansas City HRW futures also weakened on Wednesday, settling with declines between 7 1/4 and 10 3/4 cents. Minneapolis spring wheat contracts ended the day down by 9 to 10 3/4 cents.

USDA Export Sales Expectations

Market participants are awaiting USDA Export Sales data scheduled for release this morning. Traders are anticipating a wide range of outcomes for old-crop wheat, from net reductions of 200,000 MT to net sales of 100,000 MT. For the 2026/27 marketing year, projections call for total sales between 250,000 and 600,000 MT.

Russian Wheat Outlook from IKAR

IKAR has revised its outlook for Russian wheat production in 2026, now estimating output at 91.5 MMT. This represents a 1.5 MMT increase from its prior forecast. For the 2026/27 season, IKAR sees Russian wheat exports at 47.5 MMT.

Wheat Futures Board Snapshot

Below is a summary of key wheat futures settlements from Wednesday and their current Thursday morning moves as reported:

Disclosure

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.