Wheat futures rallied across all three exchanges after USDA data showed lower-than-expected acreage and tighter stocks. Chicago SRW contracts rose 1¾ to 11¼ cents, KC HRW gained 10 to 11¼ cents, and MPLS spring wheat added 4 to 6 cents. All wheat planted acres came in at 42.74 million, well below the 43.8 million trade estimate and down 1.035 million from March intentions, driven by an 890,000-acre drop in winter wheat to 31.52 million. Quarterly grain stocks on June 1 totaled 920 million bushels, below the 931 million expected but still 65 million above last year. USDA also reported a private export sale of 100,000 metric tons of hard red spring wheat to Nigeria for 2026/27.
USDA data shows lower-than-expected wheat acreage and tighter stocks, reducing supply.
USDA data shows lower-than-expected wheat acreage and tighter stocks, reducing supply.