On Thursday, July 25, winter wheat contracts declined, with Chicago SRW futures falling by 7 to 8 cents, while Kansas City HRW contracts dropped by 2 to 4 cents. In contrast, Minneapolis spring wheat futures saw gains, increasing by 2 to 5 cents. The USDA reported a total of 4,053 MT of wheat sold for the 2024/25 season, with notable purchases including 97,200 MT to Mexico.
Current wheat production data stands at 1.921 billion bushels, unchanged for winter wheat at 1.382 billion bushels. Old crop US wheat stocks remain at 891 million bushels, while new crop stocks decreased to 898 million bushels. Taiwan importers acquired 95,450 MT of US wheat, and the EU and UK combined production estimates have risen to 143.1 million metric tons.
Closing prices for July 25 were as follows: CBOT Wheatstrong> closed at $5.26 1/2 (down 7 3/4 cents), KCBT Wheat at $5.22 3/4 (down 3 1/2 cents), and MGEX Wheat at $6.20 3/4 (up 3 1/2 cents).
