Commodities
Wheat Traded Mixed on Wednesday, Spring Wheat Bucking Trend
The wheat complex experienced mixed trade on Wednesday, with spring wheat contracts bucking the trend to close higher.
Chicago SRW (Soft Red Winter) contracts saw losses of 1 1/2 to 3 1/2 cents, while KC HRW (Hard Red Winter) futures were down by 3/4 to 3 3/4 cents. In contrast, MPLS spring wheat was steady to 4 cents higher at the close.
A Reuters survey of analysts predicts expectations of 200,000 to 500,000 MT for 2026/27 wheat in the week of 7/23 ahead of Thursday's Export Sales report.
The ongoing strikes between Ukraine and Russia have continued to limit Black Sea traffic, affecting port and internal logistics infrastructure.