Wheat Taking Back Tuesday Weakness with Wednesday Strength

Wheat prices are rallying across all three U.S. exchanges at midday, reversing earlier weakness. Chicago SRW futures are up about 14 to 15 cents on most contracts. Kansas City HRW front-month contracts are gaining 16 to 17 cents, while Minneapolis spring wheat (MPLS) is higher by 17 to 18 cents. Traders are also citing ongoing disruptions in the Black Sea as added support, with port infrastructure and vessel strikes rising in recent months—at a time when exports typically pick up after harvest. Attention now turns to the weekly USDA Export Sales report due Thursday morning, with expectations for 200,000 to 450,000 MT for the week ending August 13. Sept 26 CBOT wheat is $6.79, up 14½ cents.