Wheat Eases Lower into the Holiday
The wheat complex posted losses across most contracts on Thursday. Chicago SRW wheat fell 7 to 9 cents on to round out the week on Thursday, with September rallying 16 cents on the short week. KC HRW contracts closed Thursday with losses of 4 to 7 cents, as September was up just 2 ¼ cents on the week. MPLS spring wheat slipped back on Thursday, down 1 to 2 cents, with September up 19 ¼ cents this week. The markets will be closed on Friday for Independence Day, with the open set for Sunday night.
USDA released their weekly Export Sales report this morning, with 2025/26 wheat sales totaling 585,989 MT in the week ending on June 26. That was on the high side of a Reuters survey of traders looking for between 200,000 and 600,000 MT. That was a MY high and more than double the previous week. The Philippines was the largest buyer of 162,000 MT, with 60,000 MT sold to Thailand.
Census data was released this morning, showing 2.16 MMT (79.4 mbu) of wheat exported in May. That was a 4-year high. The full year wheat export figure was 810 mbu, or 829 mbu including the products vs. USDA’s estimate of 820 in June.
Jul 25 CBOT Wheat closed at $5.47 3/4, down 8 1/4 cents,
Sep 25 CBOT Wheat closed at $5.56 3/4, down 7 1/4 cents,
Jul 25 KCBT Wheat closed at $5.18, down 4 3/4 cents,
Sep 25 KCBT Wheat closed at $5.36, down 6 1/4 cents,
Jul 25 MGEX Wheat closed at $6.30, down 1 3/4 cents,
Sep 25 MGEX Wheat closed at $6.47 1/4, down 1 3/4 cent,