Wheat prices are experiencing declines across all major exchanges on Wednesday, with Kansas City hard red winter (HRW) contracts leading the drop, down 10 to 13 cents. Chicago soft red winter (SRW) futures are down 3 to 4 cents, while Minneapolis spring wheat (MGEX) contracts face losses of 3 to 4 cents. Key prices include May 25 CBOT wheat at $5.62, down 3 cents; and July 25 KCBT wheat at $6.08½, down 10½ cents.
The USDA will release export sales data on Thursday, with last week’s figures being the second largest for the marketing year. In related news, Turkey will allow duty-free wheat imports for milling into flour for export.
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