On Wednesday, the wheat market experienced slight gains, with Chicago SRW futures rising by up to 3 cents, KC HRW futures increasing by 2 ¼ to 3 ¼ cents, and MPLS spring wheat climbing 1 to 2 ¼ cents. Key data on export sales will be released on Thursday, with expectations of old crop wheat sales ranging from 75,000 to 250,000 MT for the week ending April 9, alongside new crop estimates matching that range.
Additionally, French soft wheat exports outside the EU have reached 7.1 MMT, with intra-EU shipments projected at 7.7 MMT, reflecting a 0.13 MMT increase from the previous week. French ending stocks are now estimated at 3.31 MMT, down by 0.8 MMT.
Market closing prices for May 26 wheat are as follows: CBOT Wheat at $5.93 3/4, KCBT Wheat at $6.25 1/2, and MIAX Wheat at $6.40 1/2. July 26 futures also saw mild increases, closing at $6.01 3/4 for CBOT, $6.38 1/2 for KCBT, and $6.54 1/4 for MIAX.
