Wheat Falls Lower on Thursday
Wheat futures fell on Thursday, with Chicago SRW, KC HRW, and MPLS spring wheat closing lower. The USDA reported weekly wheat export sales of 457,933 MT, a 4-week high. Strategie Grains forecasts a 2025/26 U.S. wheat crop of 126.6 MMT, up 12.4 MMT year-over-year. South Korea purchased 86,800 MT of U.S. wheat, adding to export activity.
The wheat complex failed to join in on the rest of the grain bounce on Thursday, heading to some fresh lows. Chicago SRW futures were steady to down 8 ¼ cents across the board led by the front months. KC HRW contracts were 2 to 5 3/4 cents lower on the day. MPLS spring wheat futures closed 1 1/2 to 5 1/4 cents in the red.
The USDA released Export Sales data this morning with wheat totaling 457,933 MT in the week go 12/12. That was a 4-week high and on the higher end of the trade, which was looking for 225,000 MT to 550,000 MT. The Philippines purchased a total of 83,000, with 80,800 MT sold to Venezuela.
A South Korean import purchased a total of 86,800 MT of wheat from the US overnight. Strategie Grains estimates the US wheat crop to be 126.6 MMT for 2025/26, which is 12.4 MMT above the year prior.
Mar 25 CBOT Wheat closed at $5.33, down 8 1/4 cents,
May 25 CBOT Wheat closed at $5.43 1/2, down 8 1/4 cents,
Mar 25 KCBT Wheat closed at $5.43 1/4, down 5 1/2 cents,
May 25 KCBT Wheat closed at $5.51, down 5 3/4 cents,
Mar 25 MGEX Wheat closed at $5.86 3/4, down 5 1/4 cents,
May 25 MGEX Wheat closed at $5.94 1/2, down 4 3/4 cents.
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Source : Nasdaq.com
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