Commodities
Wheat Market Falls Back on Friday Morning
The wheat market is experiencing losses on Friday morning, with prices falling by 3 to 8 cents. This comes after a mixed performance across the three exchanges on Thursday, where Chicago SRW contracts were slightly higher and KC HRW futures showed fractionally mixed trade in the nearbys and weaker in the deferreds.
Open interest was up 6,090 contracts on Thursday, but the weekly USDA Export Sales report showed that wheat sales are still lagging behind last year's numbers. The top buyer of US wheat is Mexico, which purchased 105,000 MT in the week ending August 13.
The International Grains Council reported a decrease in production and use for 2026/27, with stocks trimmed by 4 MMT to 275 MMT.