CBOT Wheat Futures Rebound as USDA Report Looms

Wheat futures on the Chicago Board of Trade (CBOT) rose ahead of key government data releases, recovering from a six-week low reached in the previous session.

The December soft red winter wheat contract stood at $6.98-1/2 per bushel, while Minneapolis December spring wheat gained 5-3/4 cents to reach $7.05 per bushel.

Analysts surveyed by Reuters expect the US Department of Agriculture (USDA) to lower its estimate of the 2026 harvest to 1.524 billion bushels from the previous forecast of 1.531 billion bushels.

Russia's grain exports are also expected to be impacted, with consultancy SovEcon reducing its forecast for 2026/27 grain exports to 44.7 million metric tons from 49.4 million tons due to disruptions at southern ports.