Mixed Sentiment on CBOT as Wheat Prices Weaken

The CBOT is showing mixed sentiment as wheat prices were up and down on Wednesday. Canadian wheat prices increased by $18 to $25/tonne, but overall wheat prices remained mixed due to weather and geopolitical issues.

Statistics Canada released its latest principal field crop report, which estimated all wheat production for 2026-27 at 36.1 million tonnes, below the average trade estimate of 38.3 million. Spring wheat production was down 3.2 million tonnes at 26.5 million, while durum wheat declined by 888,000 tonnes at 6.4 million.

Ukraine's ag ministry projected 4.5 million hectares of winter wheat for 2027, down from last year's figure. FranceAgriMer estimated French wheat exports outside the European Union at 6.3 million tonnes, down from its previous estimate, and cut EU exports by 300,000 tonnes to 7.1 million.