Speaking ahead of the trip to Buckinghamshire, Owls boss Darren Moore said he felt Smith would not miss an extended period and that the club were taking every possible precaution to limit any time on the sidelines.
Wednesday were already without last season’s top scorer Lee Gregory who will serve a one-match suspension and Smith was expected to come in to replace the former Stoke City man and partner Josh Windass up top.
But the wait for Smith’s full debut will have to wait as the club’s medical staff monitor Smith’s injury.
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He was able to come off the bench to make his competitive debut in Saturday’s curtain-raising 3-3 draw with Portsmouth having suffered a minor niggle that caused him to miss 10 days of involvement in the back end of Wednesday’s pre-season schedule.
The 30-year-old signed from promoted near-neighbours Rotherham United earlier this summer alongside centre-half Michael Ihiekwe.
He scored 25 goals across all competitions as the Millers were promoted from League One and lifted the Papa Johns Trophy and it is hoped his added goal threat and experience can help push Wednesday further towards promotion back to the Championship.
Injury concerns over midfield man Fisayo Dele-Bashiru have been allayed, while Callum Paterson also looks set to shake off his ankle issue.
MK Dons are also without one of their key strikers for the weekend’s clash, with Mo Eisa having been ruled out earlier this week.