Wheat prices showed mixed movement early Thursday, with winter wheats losing up to 2 cents. Chicago SRW futures closed higher on Wednesday, ranging from 3 ¾ to 10 cents, with open interest increasing by 2,053 contracts, indicating new buying activity. Kansas City HRW futures rose by 6 ½ to 14 cents, accompanied by a 1,909 contract increase in open interest.
Weekly Export Sales data is anticipated to report net sales of 2026/27 wheat between 250,000 and 450,000 MT for the week ending July 30. Concerns regarding Black Sea export flows have intensified due to recent conflicts, notably a Russian strike on a Ukrainian wheat-laden vessel.
On Wednesday, Algeria procured an estimated 720,000 MT of wheat. The EU wheat crop is now estimated at 126.8 million metric tons, down 1.5 million from prior reports.
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