The wheat market was mixed in the middle of the week. While Chicago wheat futures fell slightly on the CBoT, the durum wheat markets in Kansas City held their ground. September rose by 1.50 US cents to 524.00 US cents/bushel, while in Minneapolis at Spring Wheat the July and September futures also gained slightly.
The trade policy situation remained tense: The US government announced further tariff hikes, including a new 20% levy on Philippine products from August 1. There is also caution ahead of the upcoming USDA data. Analysts are forecasting a reduction in total US wheat production of 14 million bushels to 1.907 billion bushels for the WASDE report expected on Friday. Winter wheat in particular is expected to fall by 19 million bushels to 1.362 billion bushels. According to estimates, ending stocks for the 2025/26 marketing year could fall slightly to 894 million bushels.
The weekly export figures are due to be published on Thursday. Experts expect export sales in a range of 200,000 to 600,000 tons.
On Euronext, September gained €1.00 to €195.75/t.
