Wheat Markets Mixed as Soybean Prices Ease Amid Ongoing Conflict

The commodity sector saw mixed results in wheat markets at the close of trading on August 5. Chicago wheat futures closed 3 3/4 to 10 cents higher, while Kansas City (KC) futures gained 6 1/2 to 14 cents across the board. However, Minneapolis spring wheat was mixed, with nearby contracts down as much as 1 1/4 cents.

Traders are awaiting the USDA's weekly export sales data, which is expected to show net sales of 250K~450K metric tons for the final week of July 2026. Concerns over Black Sea export flows remain due to the ongoing Russia-Ukraine conflict, with intensified attacks on vessels and ports in recent weeks.

Algeria has made a notable grain purchase, buying an estimated 720,000 metric tons of wheat this past Wednesday. In contrast, soybeans have eased from their week's high above $1198 to $1167 as trading moves past midweek.