Wheat Rallies into the Close

Austin Schroeder Barchart Wed Jul 2, 5:33PM CDT
Wheat field under cloudy blue sky by Beth MacDonald via Unsplash

Wheat bulls were pushing things higher on Wednesday, with gains across all three markets.  Chicago SRW wheat posted 15 to 19 cent gains on Wednesday. There was 1 contract issued against CBT wheat overnight.  KC HRW contracts were 11 to 12 cents in the green at the final bell. There were 129 deliveries against KC wheat overnight. MPLS spring wheat closed out the day with contracts up 20 to 22 cents.

USDA will release their weekly Export Sales report on Thursday, with traders surveyed by Reuters looking for between 200,000 and 600,000 MT of wheat sold in the week of June 26. 

Earlier today, President Trump announced a trade deal with Vietnam, stating the country is charging no tariffs on US goods. Nearly 3% of all US wheat export commitments for 2024/25 were for Vietnam. 

Jul 25 CBOT Wheat  closed at $5.56, up 18 3/4 cents,

Sep 25 CBOT Wheat  closed at $5.64, up 15 cents,

Jul 25 KCBT Wheat  closed at $5.22 3/4, up 12 cents,

Sep 25 KCBT Wheat  closed at $5.42 1/4, up 11 cents,

Jul 25 MGEX Wheat  closed at $6.31 3/4, up 21 1/2 cent,

Sep 25 MGEX Wheat  closed at $6.49, up 20 1/2 cent,


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.