Wheat prices across various markets declined on Thursday, with Chicago SRW contracts down 13-14 cents and KC HRW futures leading the drop at 17-18 cents. MPLS spring wheat also fell, with contracts down 15-16 cents at midday.
The latest Fresh Export Sales data revealed a total of 296,427 metric tons (MT) for the week of July 30, falling short of estimates between 250,000 and 450,000 MT, and representing a 59.82% decrease from the same week last year. Additionally, ongoing tensions from the Russia-Ukraine conflict have disrupted Black Sea export flows, highlighted by a recent Russian attack on a Ukrainian vessel carrying wheat.
Expana has revised the EU wheat crop estimate to 126.8 million metric tons (MMT), down 1.5 MMT from previous figures. In a separate transaction, a South Korean mill importer purchased 36,800 MT of wheat from the U.S. on Thursday.
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