Chicago wheat futures closed higher again Thursday, extending the three-year highs reached a day earlier as escalating Black Sea disruptions continued to offer support.
The strength in wheat remained centred on mounting difficulties moving grain out of Russia and Ukraine. Repeated attacks on ports, vessels, and export infrastructure have delayed or cancelled shipments. Weekly U.S. export sales added modest support. The USDA reported this morning that wheat sales for 2026-27 totaled 402,531 tonnes in the week ended Aug. 20, a nine-week high and within expectations of 250,000 to 550,000 tonnes. December Chicago wheat was up 12 ½ cents to $7.60 ¾, and December Kansas City climbed 13 ¼ cents to $8.22. December Hard Red Spring was 12 ¼ cents higher at $7.72, and December Minneapolis added 9 ¾ cents to $7.57 ¾.
Soybeans finished modestly higher, helped by strong new-crop export demand. Sales reached 2.478 million tonnes, toward the upper end of expectations and more than double year-ago levels. Old-crop sales were just 73,913 tonnes. November inched 2 cents higher to $12.68, and March was up 2 cents at $12.88 ¼.
Corn ended lower despite new-crop sales of 1.066 million tonnes, a marketing-year high. Old-crop sales slipped to only 31,220 tonnes, also a marketing-year low, while traders continued to weigh improving harvest prospects. December slipped 3 cents to $5.33 ½, and March lost 3 ½ cents to $5.47 ¼.
