Wheat markets are experiencing a weaker start today, following a mixed performance in Thursday’s session. Chicago Soft Red Winter (SRW) contracts closed up by 4.5 to 5.5 cents, while Kansas City Hard Red Winter (HRW) futures increased by 3 to 5 cents. However, open interest dropped significantly, with a reduction of 1,584 contracts in Chicago and 7,152 contracts in Kansas City.
Recent USDA Export Sales data revealed 504,489 metric tons (MT) of wheat sold for the week ending June 18, 25.86% higher than the previous week and nearly double the same week last year. Mexico was the leading buyer, purchasing 204,400 MT, followed by Japan with 118,700 MT. Additionally, production estimates for the 2026/27 world wheat crop were raised to 821 million metric tons (MMT), while European Union wheat stocks projected at 13.8 MMT are down by 0.3 MMT from last month.
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