Wheat Prices Slip Early Monday Amid Market Pressure
On July 27, wheat prices were down early in the session as traders unwound positions ahead of the weekend. The decline was seen across major contracts with Chicago SRW and Kansas City HRW futures both falling by several cents per bushel. Despite losses during the day, buyers managed to prevent further declines near intraday lows. The Commitment of Traders report showed significant shifts in positioning: managed money reduced their net short position in CBT wheat while increasing longs in KC wheat. Export sales data also indicated a 26% drop compared to last year's new crop sales, which is below the five-year average and USDA projections. Russia’s projected wheat exports for 2026/27 are expected at 44.5 million metric tons with an estimated total production of 90 MMT according to IKAR. In France, harvest progress was reported as nearly complete.
Topics: futures_trading market_data wheat