The wheat complex is posting a sharp rally on Wednesday with support from the Black Sea conflict. Chicago SRW contracts are 25 to 27 cents higher is most contracts on Wednesday. KC HRW futures are leading the rally on Wednesday, up 29 to 31 cents. MPLS spring is posting 20 to 22 cent gains at midday.
Export Sales data from FAS will be released on Thursday as traders surveyed by Reuters are looking for net 2026/27 sales in a range of 200,000 to 550,000 MT.
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Minnesota and the Dakotas through the PNW are seen with little to no precip in the next week according to the NOAA 7-day QPF. The annual spring wheat tour showed a day 1 yield for southern portions of ND at 46 bpa, 4 bpa below last year and slightly above the 45.8 bpa average over the last 5 year.
Russia has paused shipments out of a major export center, Novorossiysk, during the night time hours due to recent drone strikes by Ukraine.
Sep 26 CBOT Wheat is at $7.04 1/4, up 26 1/4 cents,
Dec 26 CBOT Wheat is at $7.21 1/4, up 25 1/4 cents,
Sep 26 KCBT Wheat is at $7.63 1/4, up 30 1/4 cents,
Dec 26 KCBT Wheat is at $7.78 3/4, up 29 1/4 cents,
Sep 26 MIAX Wheat is at $7.25 1/4, up 21 cents,
Dec 26 MIAX Wheat is at $7.49 1/2, up 21 1/4 cents,
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