CBOT Wheat Futures Rise Ahead of USDA Grain Reports
Wheat futures on the Chicago Board of Trade (CBOT) rose on Wednesday morning, recovering from a six-week low as traders repositioned ahead of key government data releases. The CBOT wheat futures climbed 3 to 6 cents per bushel in early trading.
The US Department of Agriculture is set to release its quarterly grain stocks and annual small grains reports at 11 a.m. CDT, with analysts surveyed by Reuters expecting the USDA to lower its estimate of the 2026 harvest to 1.524 billion bushels from the previous forecast of 1.531 billion bushels.
Grain consultancy SovEcon reduced its forecast for Russia's 2026/27 grain exports to 44.7 million metric tons from 49.4 million tons, citing disruptions to exports from Russia's southern ports as the reason for the downward revision.