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,
On the date of publication,
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