Wheat Extends to 3-year Highs on Thursday

Wheat prices extended gains on Thursday, reaching three-year highs in winter wheat futures. Chicago SRW futures closed up 8 to 12.5 cents, while KC HRW rose 10 to 13.25 cents. MPLS spring wheat finished higher by 5 to 11.25 cents. Open interest increased by 4,998 contracts in the session, with September down 6,943 ahead of FND on Monday; KC HRW’s OI rose by 1,468. The report cites elevated Black Sea tensions after Wednesday’s claims that Russia is looking to escalate, with the next four-month period typically the peak shipping season. Export sales totaled 402,531 MT for 2026/27 in the week of 8/20, down 30.57% year over year.