The wheat complex showed mixed results on Thursday, with Chicago SRW contracts posting minor gains. Open interest decreased by 11,876 contracts on Wednesday, while KC HRW futures declined by 1 to 2 cents across most contracts. MPLS spring wheat fluctuated, with prices ranging from up ¼ cent to down 3 ¾ cents.
USDA’s Export Sales data revealed that 504,489 MT of wheat was sold during the week of June 18, surpassing estimates of 250,000 to 600,000 MT. This figure marked a 25.86% increase from the previous week and was nearly double compared to the same week last year.
Additionally, the International Grains Council projected 2026/27 world wheat production at 821 MMT, a 1 MMT increase from last month, while new crop stocks were reduced by 2 MMT to 280 MMT. In contrast, European Commission data indicated a decrease in EU wheat stocks for 2026/27 to 13.8 MMT, alongside a 0.6 MMT drop in production to 126.3 MMT.
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