Wheat Holds Most Gains on Thursday
Philippine Agriculture Secretary Francisco Tiu Laurel Jr. directed the Rice Industry Development Office to study shifting consumer preferences favoring imported Vietnamese rice. Filipinos increasingly choose soft, fragrant, high-quality grains over quantity, prompting calls for policy adjustments. Studies show local varieties like Rc160 and Rc512 can rival Vietnam’s premium ST25, supporting market alignment efforts.
The wheat complex closed Thursday with the three major exchanges holding higher. CBT soft red wheat futures were up 1 to 2 cents to close out the day. KC HRW futures posted 2 to 3 cent gains on Thursday. MPLS spring wheat saw some mixed trade, with September down ¾ cent and Decembre up a penny.
USDA’s Export Sales total from this morning showed a total of 519,752 MT in wheat bookings in the week ending on August 14. That was a 5-week low, down 28.1% from last week, but still 5.5% above last year in the same week. The lead buyer was Mexico at 119,500 MT, with 90,500 MT sold to South Korea.
Taiwan purchased 90,200 MT of wheat from the US in a tender on Thursday. The International Grains Council increased their outlook for the 2025/26 world wheat output by 3 MMT to 811 MMT. Consumption was increased by 2 MMT, as stocks were trimmed by 1 MMT to 264 MMT.
Sep 25 CBOT Wheat closed at $5.07, up 1 1/2 cents,
Dec 25 CBOT Wheat closed at $5.29 3/4, up 1 1/2 cents,
Sep 25 KCBT Wheat closed at $5.03 1/4, up 2 1/2 cents,
Dec 25 KCBT Wheat closed at $5.26, up 2 3/4 cents,
Sep 25 MGEX Wheat closed at $5.69 1/4, down 3/4 cent,
Dec 25 MGEX Wheat closed at $5.90, up 1 cents.
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Source : BarChart
