Summary: Wheat futures rallied across SRW, HRW, and MPLS, led by KC, ahead of USDA's 2026 crop outlook and a projected drop in acreage and output.Abstract: Wednesday's wheat market climbed across SRW, HRW, and MPLS as traders digest the USDA's forthcoming 2026 crop outlook, with expectations of about 44.7 million acres and roughly 1.872 billion bushels of production.

SelfRugger

2026-05-01 02:47:17

Abstract generation in progress

Wheat Rallies on Wednesday

Wheat and bread on a table by scorpp via iStock

Austin Schroeder

Thu, February 19, 2026 at 8:13 AM GMT+9 1 min read

The wheat complex was in bounce back mode on Wednesday, with gains across all three markets… Chicago SRW futures were up 9 to 10 cents at the close. KC HRW futures led the bull’s charge, with contracts up 11 to 12 ¼ cents in the nearbys. MPLS spring wheat saw strength, with contracts 5 to 6 cents higher.

The annual Ag Outlook Forum from USDA will publish initial armchair estimates for the 2026 wheat crop on Thursday. Heading into the release, analysts surveyed by Bloomberg are looking for all wheat acreage to be reported at 44.7 million acres, down ~600,000 acres from last year if realized. Production is seen at 1.872 bbu, down 113 mbu from last year.

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The forecast for the next week calls for light precip totals in SRW area, with the Southern Plains remaining dry.

Mar 26 CBOT Wheat closed at $5.47, up 9 1/4 cents,

May 26 CBOT Wheat closed at $5.52 1/2, up 10 cents,

Mar 26 KCBT Wheat closed at $5.51, up 12 1/4 cents,

May 26 KCBT Wheat closed at $5.61 3/4, up 11 1/4 cents,

Mar 26 MIAX Wheat closed at $5.74, up 5 3/4 cents,

May 26 MIAX Wheat closed at $5.85, up 5 cents,

_ On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com _

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