On Thursday, the wheat market experienced declines across all three futures markets. CBT soft red wheat futures fell by 3 to 4 cents, while KC HRW futures decreased by 2 to 2.5 cents. MPLS spring wheat also saw a drop of 3 to 4 cents.
According to USDA’s export sales data, wheat sales totaled 722,846 metric tons, a notable decrease from the previous week but still the second-largest figure for the marketing year. The largest buyer was South Korea, which purchased 130,000 metric tons, followed by Mexico with 114,900 metric tons. In a separate tender, a South Korean importer acquired an additional 50,000 metric tons of U.S. wheat.
Key closing prices on September 25 included: CBOT Wheat at $5.03 1/2 (down 3 3/4 cents), KC Wheat at $5.04 1/4 (down 2 1/2 cents), and MGEX Wheat at $5.73 1/4 (down 3 3/4 cents).
