The wheat market faced losses on Thursday, spear headed by the soft red wheat market. CBT prices were 7 to 8 cents per bushel lower. KC contracts were 5 to 6 cents lower, and MPLS spring wheat was mostly 4 to 5 cents lower at the close. A stronger US dollar index was doing the market no favors as Northern Hemisphere harvest supplies are becoming widely available. The spring wheat crop tour begins next week.
USDA released their Export Sales report this morning, with sales coming in the range of traders estimates of 300,000 to 700,000 MT, at 494,400 MT. Mexico and Venezuela were the leading destinations.
The Rosario Grains Exchange estimates the 2025/26 Argentina wheat crop at 20 MMT, vs. the 20.7 MMT reported last year.
Sep 25 CBOT Wheat closed at $5.33 1/2, down 7 3/4 cents,
Dec 25 CBOT Wheat closed at $5.54 1/4, down 7 1/2 cents,
Sep 25 KCBT Wheat closed at $5.17 1/2, down 5 1/4 cents,
Dec 25 KCBT Wheat closed at $5.40, down 5 1/4 cents,
Sep 25 MGEX Wheat closed at $5.95, down 4 1/2 cents,
Dec 25 MGEX Wheat closed at $6.16 3/4, down 4 1/4 cents,
