Wheat Complex Sees Mixed Trade Amid Ongoing Black Sea Export Worries
The wheat complex saw mixed trade on Wednesday as the close of the midweek session approached. Chicago SRW contracts rose by 3 3/4 to 10 cents, while KC HRW futures increased by 6 ½ to 14 cents across the board.
MPLS spring wheat was mixed, with front months down as much as 1 ¼ cents and deferreds up 3 ½ cents at the close. The price of Sep 26 CBOT Wheat closed at $6.42 1/4, up 3 3/4 cents.
The upcoming Weekly Export Sales data on Thursday is expected to show net sales of 2026/27 wheat between 250,000 to 450,000 MT in the week of July 30. Concerns remain about the flow of exports out of the Black Sea due to the Russia/Ukraine conflict.
Algeria purchased an estimated 720,000 MT of wheat in a tender on Wednesday, which may indicate increased demand for wheat imports.