Wheat Falls Lower on Thursday
The wheat complex was weaker across the board on the Thursday session. CBT soft red wheat futures were down 3 to 4 cents on Thursday. KC HRW futures were 5 to 6 ¼ cents lower at the close. MPLS spring wheat futures closed the session the 2 to 3 cent losses.
The weekly Export Sales report from this morning was reported at 377,459 MT, a 3-week high and still 53.23% above the same week in 2024. The largest buyer was the Philippines at 186,000 MT, with 104,300 MT sold to Nigeria, and 96,000 MT to Mexico.
A South Korean mill importer purchased 30,000 MT of US wheat this overnight. Coceral estimates the EU and UK combined wheat crop at 147.4 MMT, an increase of 4.3 MMT from their previous number in June.
Dec 25 CBOT Wheat closed at $5.24 1/4, down 4 cents,
Mar 26 CBOT Wheat closed at $5.42 1/2, down 3 3/4 cents,
Dec 25 KCBT Wheat closed at $5.10, down 6 1/4 cents,
Mar 26 KCBT Wheat closed at $5.31 3/4, down 5 1/2 cents,
Dec 25 MGEX Wheat closed at $5.72 3/4, down 2 1/4 cents,
Mar 26 MGEX Wheat closed at $5.92 3/4, down 2 3/4 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. For more information please view the Barchart Disclosure Policy here.