In Chicago, SWR wheat for December was up 6.50 US cents at 521.50 US cents/bushel. The September contract even climbed by 8.00 US cents to 503.00 US cents/bushel. In Kansas City, HRW wheat for December rose by 3.00 US cents to 510.00 US cents/bushel, while the September contract closed slightly higher at 487.00 US cents/bushel. Spring wheat in Minneapolis also gained, but did not manage to rise more than 2 to 3 US cents.
Despite disappointing US export figures, the wheat market held its ground on Thursday. In the reporting week to September 4, sales totalled only 305,351 tons, which is the second worst figure of the current marketing season. Japan led with 78,600 tons, ahead of Indonesia with 70,000 tons.
Traders are now focusing on the new WASDE report, which is expected this Friday. Market participants expect only minor adjustments in the US balance sheet for 2025/26.
From Europe, Expana reported an increase in wheat production in the EU by 3.3 million tons to 136.1 million tons, a potentially bearish impulse for the global market.
On Euronext, December was also €0.75 higher, closing at €189.50/t.
