The wheat complex is in bounce back mode on Wednesday. Chicago SRW futures are trading 5 to 7 ½ cents higher on Wednesday. KC HRW futures are posting 7 to 8 cent midday gains. MPLS spring wheat is showing 2 to 3 cent gains at midday.
The annual Ag Outlook Forum from USDA will publish initial armchair estimates for the 2026 wheat crop on Thursday. Heading into the release, analysts surveyed by Bloomberg are looking for all wheat acreage to be reported at 44.7 million acres, down ~600,000 acres from last year if realized. Production is seen at 1.872 bbu, down 113 mbu from last year.
The forecast for the next week calls for light precip totals in SRW area, with the Southern Plains remaining dry.
Mar 26 CBOT Wheat is at $5.43, up 5 1/4 cents,
May 26 CBOT Wheat is at $5.49 3/4, up 7 1/4 cents,
Mar 26 KCBT Wheat is at $5.46, up 7 1/4 cents,
May 26 KCBT Wheat is at $5.57 3/4, up 7 1/4 cents,
Mar 26 MIAX Wheat is at $5.70 1/2, up 2 1/4 cents,
May 26 MIAX Wheat is at $5.82 1/4, up 2 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
