Wheat Futures Bounce Back from Friday's Losses

Wheat futures rebounded on Monday morning after ending Friday's session lower across major exchanges. The contracts traded between 7 and 13 cents higher, erasing part of the losses from the previous day. This comes after a weaker finish on Friday when wheat prices closed lower across all three major U.S. exchanges.

The Chicago Board of Trade (CBOT) saw a net short in managed money accounts reduced to 26,485 contracts for the week ending August 18. Meanwhile, Kansas City hard red winter (HRW) futures saw an increase in net long positions by 7,173 contracts, bringing that total to 34,835 contracts.

The USDA reported 2026/27 wheat export sales at 7.936 MMT, which is 31% below the comparable period last year and represents 38% of the current export forecast. This follows a global supply update from Sovecon, which estimates the Russian wheat crop for 2026 at 88.2 MMT, down from its previous forecast by 0.3 MMT.