Wheat Markets Mixed Amid Ongoing Conflict in Ukraine

Wheat markets were mixed at the close of trading on August 5, with Chicago wheat finishing the session 3 3/4 to 10 cents higher. However, Kansas City futures gained 6 1/2 to 14 cents across the board, while Minneapolis spring wheat was mixed, with nearby contracts down as much as 1 1/4 cents.

The USDA is set to release its weekly export sales data today, and traders are expecting net sales of 250K~450K metric tons for the final week of July 2026. Concerns over Black Sea export flows have intensified due to the Russia-Ukraine conflict, which has led to attacks on vessels and ports in recent weeks.

Algeria bought an estimated 720,000 metric tons of wheat this past Wednesday, while soybeans have eased from their week's high above 1198 to 1167 as trading moves past midweek. Analysts expect USDA export sales of 100K~400K metric tons for the final week of July 2026, with new-crop business projected at 0.9 to 1.55 million metric tons.