The wheat market experienced late-session gains on Thursday, with Chicago SRW contracts rising by 4.5 to 5.5 cents, while KC HRW futures increased by 3 to 5 cents. As of July 26, CBOT Wheat closed at $5.91, up 5.25 cents; KCBT Wheat closed at $6.20.5, up 3.25 cents; and MIAX Wheat closed at $5.87.25, up 3 cents.
USDA reported export sales of wheat for the week of June 18 at 504,489 metric tons, marking a 25.86% increase from the previous week and nearly double the sales from the same time last year. Mexico was the leading buyer at 204,400 metric tons, followed by Japan with 118,700 metric tons.
Additionally, the International Grains Council projected global wheat production for 2026/27 at 821 million metric tons, a slight increase of 1 million metric tons from last month, while stocks are expected to decrease by 2 million metric tons to reach 280 million metric tons. In the European Union, wheat stocks are projected at 13.8 million metric tons, down 0.3 million metric tons from last month.
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