Wheat Prices Decline Amid Weakness Across Exchanges
On September 19, wheat prices faced downward pressure across multiple exchanges. Chicago SRW futures fell between 6 to 13 cents per bushel with December contracts down by 11 cents from the previous week’s close. KC HRW and Minneapolis spring wheat also saw declines of up to 10¾ cents each for their respective December contracts. Speculative funds in Chicago wheat shifted back to a net short position, increasing by nearly 9,000 contracts as of September 15. Meanwhile, managed money positions in Kansas City wheat were reduced from the long side by over 5,400 contracts. Export sales for the 2026/27 season reached 9.178 million metric tons but lagged behind both last year’s pace and USDA projections. Despite calls for de-escalation in conflict zones affecting Black Sea exports, shipments remain limited from Russia and Ukraine. The week's export data showed a 30% drop compared to the same period last year.
