The wheat complex is in the red across the three exchanges on Friday. Chicago SRW contracts were fractionally to 1 ¼ cents lower on Friday, with September up 6 ¾ cents on the week. KC HRW futures posted losses of 1 ¾ to 6 cents on the session, with September holding onto a 2 cent gain for the week. MPLS spring wheat was down 2 ½ to 4 cents lower at the close, with September rallying 20 cents on the week. September options expired today.

CFTC’s weekly Commitment of Traders report showed managed money cutting back 4,916 contracts from their CBT wheat net short position in the week of 8/18 to a net short of 26,485 contracts. In KC wheat, they added back 7,173 contracts to their net long to 34,835 contracts.

The weekly USDA Export Sales report has tallied 2026/27 wheat sales at 7.936 MMT, now down 31% from last year. That is 38% of the current USDA export estimate and lags the 49% pace from last year and the 45% average. 

Sovecon estimates the Russian wheat crop at 88.2 MMT for 2026, a 0.3 MMT decline from the previous number.

Sep 26 CBOT Wheat  closed at $6.81 1/2, down 1 1/4 cents,

Dec 26 CBOT Wheat  closed at $6.99 1/4, down 3/4 cent,

Sep 26 KCBT Wheat  closed at $7.56 1/4, down 6 cents,

Dec 26 KCBT Wheat  closed at $7.72 1/2, down 4 cents,

Sep 26 MIAX Wheat  closed at $6.98 1/4, down 2 1/2 cents,

Dec 26 MIAX Wheat  closed at $7.25 1/2, down 3 1/4 cents,