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The wheat market experienced gains on Thursday, particularly in winter wheat contracts, while spring wheat saw declines. Chicago SRW futures increased by 2 to 3 cents, Kansas City HRW futures were up 4 to 5 cents, and MPLS spring wheat fell by 3 to 4 cents.
The USDA reported Export Sales data for the week ending October 31, revealing 505,415 MT of wheat sold, within trader expectations of 250,000 to 650,000 MT and marking a three-week high. Additionally, Statistics Canada updated Canadian wheat production to 39.96 MMT, which is a 3.3 MMT increase from September and exceeds estimates of 38.49 MMT.
Closing prices for wheat futures included: Dec 25 CBOT Wheat at $5.41 (up 3 1/4 cents), Mar 26 CBOT Wheat at $5.40 1/4 (up 2 cents), Dec 25 KCBT Wheat at $5.29 1/2 (up 8 1/2 cents), and Dec 25 MGEX Wheat at $5.82 1/2 (unchanged).
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