Wheat Falls Lower on Thursday
Wheat futures weakened Thursday: CBOT soft red wheat fell 3–4 cents, KC HRW lost 5–6¼ cents, and Minneapolis spring wheat slipped 2–3 cents. Weekly U.S. export sales hit 377,459 MT, up 53% year-on-year, led by the Philippines, Nigeria, and Mexico. Coceral raised EU+UK wheat output to 147.4 MMT. South Korea purchased 30,000 MT.
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.
To Read more about Wheat News continue reading Agriinsite.com
Source : BarChart
