Wheat Trying to Push Higher on Wednesday

Austin Schroeder Barchart Wed Jul 9, 12:26PM CDT
Golden wheat field on a sunny day by IakovKalinin via iStock

The wheat complex is posting slight strength on Wednesday. Chicago SRW wheat is up 1 to 2 cents. KC HRW contracts are showing fractional gains at midday. There were 4 deliveries issued for July KC wheat this morning. MPLS spring wheat is up 2 to 4 cents  on Wednesday. 

President Trump issued more letters to countries this morning notifying them of the August 1 increase in tariffs, namely a 20% tariff on the Philippines. 

Crop Production data will be updated on Friday, with a Bloomberg survey of analysts showing all wheat production tightening by 14 mbu to 1.907 bbu, mainly on the lower harvested acres found at the end of June. Winter wheat is seen at 1.362 bbu, down 19 mbu from last month, with spring wheat seen at mbu and durum at 78 mbu. Wheat stock for the end of 2025/26 are seen at 894, just 4 mbu lower vs. last month.

Jul 25 CBOT Wheat  is at $5.43, unch,

Sep 25 CBOT Wheat  is at $5.49, up 1 1/4 cents,

Jul 25 KCBT Wheat  is at $5.01 3/4, down 1 3/4 cents,

Sep 25 KCBT Wheat  is at $5.23 1/4, up 3/4 cent,

Jul 25 MGEX Wheat  is at $6.13, unch,

Sep 25 MGEX Wheat  is at $6.32 3/4, up 3 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.