Wheat Prices Rise as Harvest Gets Ahead of Schedule

Wheat Market Update

Steady Growth
The wheat market continues to grow, though it remains behind corn and soy.
Harvest Status
A USDA report (July 7) shows that by early July, 59 % of the country’s winter wheat has already been harvested—8 percentage points above last year and higher than the five‑year average.
Price Trend
Early harvesting is pushing September 2026 wheat prices toward the 100‑day moving average line.
The latest World Agricultural Supply and Demand Estimates predict lower ending stocks, potentially sustaining market pressure.

Trading Activity
Managed money traders hold large short positions; increased short‑covering activity is expected.
Target Levels
If price rises above the June high of 626½, it could climb toward 650.
Traders might buy September contracts around 609 with a stop at 599, targeting roughly 629.
Option buyers could target a call at 650 with a premium of 14.4, anticipating the price to finish above 626½ for profitability.
Outlook
These developments signal a bullish outlook for wheat as the harvest progresses ahead of schedule.