Wheat futures on the Chicago Board of Trade are expected to open between three‑quarters and two cents higher per bushel on Thursday, marking a third straight session of gains as market participants adjust positions ahead of the July 4 federal holiday. The U.S. Department of Agriculture’s acreage and stocks report released on Tuesday indicated that 2026 U.S. wheat plantings are well below market expectations, providing additional support to price advances.
Net U.S. wheat export sales for the 2026/27 marketing year during the week ended June 25 totaled 300,060 metric tons, a figure that fell within analysts’ low‑end forecast range of 300,000 to 600,000 tons. In parallel, Saudi Arabia’s General Food Security Authority issued a tender to purchase 655,000 metric tons of wheat, further underpinning demand.
Statistics Canada also reported that Canadian wheat area for the current season is below trade expectations, adding another layer of upward pressure on global wheat prices. At the CBOT, September soft red winter wheat was last quoted up 2‑¼ cents to $6.02‑¼ per bushel, Kansas City September hard red winter wheat rose 2‑¼ cents to $6.37‑¼ per bushel, and Minneapolis September spring wheat increased 1 cent to $6.19‑½ per bushel.
Trading on the Chicago Board of Trade is scheduled to resume at 8:30 a.m. CDT.