Wheat Market Faces Pressure as USDA Export Sales Decline

The wheat market is experiencing downward pressure on Friday, according to Barchart.com. Chicago SRW contracts are trading at 4 to 6 cents lower so far today, while KC HRW futures are down 7 to 9 cents. MPLS spring wheat is also in the red, down 5 to 7 cents at midday.

The USDA's weekly Export Sales report has reported 2026/27 wheat sales at 7.936 MMT, a decline of 31% from last year. This represents 38% of the current USDA export estimate, which lags behind last year's pace of 49% and the average pace of 45%. Sovecon estimates the Russian wheat crop at 88.2 MMT for 2026, down 0.3 MMT from its previous number.

The prices for September options are as follows: Sep 26 CBOT Wheat is at $6.77 1/2, down 5 1/4 cents; Dec 26 CBOT Wheat is at $6.95 1/4, down 4 3/4 cents; Sep 26 KCBT Wheat is at $7.53 1/2, down 8 3/4 cents; and Dec 26 KCBT Wheat is at $7.68 3/4, down 7 3/4 cents.