Wheat is posting a continued lower trade across the three exchanges at Thursday’s midday. Chicago SRW wheat is 5 to 7 cents lower on the day. KC HRW contracts are trading with 5 to 7 cent losses. MPLS spring wheat is down 6 to 8 cents.

USDA’s Export Sales report showed 255,208 MT of wheat sold in the week of June 19, falling short of analysts estimating 300,000 to 600,000 MT. That was down 40.26% from last week and 61.75% below the same week last year. The largest buyer was Japan at 93,600 MT, with 83,200 MT sold to Mexico.

USDA will release their quarterly Grain Stocks report on Monday, also the ending stocks for the 2024/25 wheat marketing year. Analysts estimate a total of 836 mbu of wheat on hand on June 1, with a range of estimates from 805 to 852 mbu. 

Russia’s wheat crop is estimated to total 84.53 MMT this growing season, according to IKAR, which was up 0.7 MMT from the previous estimate. A South Korean mill tendered for 50,000 MT of US wheat overnight.

World wheat production was raised 2 MMT by the International Grains Council to 808 MMT, with consumption up 1 MMT. Ending stocks for 2025/26 were up 2 MMT to 264 MMT.

Jul 25 CBOT Wheat  is at $5.22 1/2, down 5 3/4 cents,

Sep 25 CBOT Wheat  is at $5.37 3/4, down 6 3/4 cents,

Jul 25 KCBT Wheat  is at $5.17 1/2, down 6 3/4 cents,

Sep 25 KCBT Wheat  is at $5.33 1/2, down 5 3/4 cents,

Jul 25 MGEX Wheat  is at $6.03 3/4, down 7 3/4 cents,

Sep 25 MGEX Wheat  is at $6.22, down 6 cents,