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On Thursday, the wheat market experienced losses, with CBT soft red wheat futures declining by 17 to 19 cents and KC HRW futures falling by 16 to 18 cents. Meanwhile, MPLS spring wheat futures were down by 3 ¾ to 4 ½ cents. This decline follows the announcement that China purchased a total of 120,000 metric tons of U.S. wheat, including 60,000 metric tons of soft wheat and 60,000 metric tons of spring wheat.
Additionally, South Korea made two separate tenders, seeking 60,000 metric tons of optional origin purchases and another 50,000 metric tons of U.S. wheat, with a deadline set for Friday. As the government shutdown continues, USDA’s Export Sales report will not be released for the sixth consecutive week, although traders estimate that exporters sold between 250,000 and 650,000 metric tons of wheat for the week of October 30.
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