Wheat International News
12-Sep-2026 08:31 AM
Wheat International News
As expected this month, USDA left the U.S. wheat production estimate unchanged as the market waits for the Small Grains Summary report due on September 30. The rest of the U.S. balance sheet was also unchanged, with U.S. carryout steady at 717 million bushels.
Globally, wheat ending stocks were raised by 3.04 million metric tons to 276.29 million metric tons. Russian and Ukrainian exports were reduced by a combined 4 million metric tons, while Australia’s production estimate was increased by 3 million metric tons and Canada’s production by 1 million metric tons.
Export Sales data was delayed until this morning due to the Monday holiday. The report showed 2026/27 wheat sales of just 194,233 metric tons for the week ending September 3, below trade estimates of 250,000 to 500,000 metric tons. Sales were down 37.64% from the previous year.
The weekly CFTC report showed managed money cutting 10,392 contracts from its fresh net-long position in Chicago wheat futures and options, bringing it to just 4,262 contracts as of September 3. In KC wheat, speculative funds added 964 contracts to their net-long position, taking it to 51,248 contracts.