The wheat complex experienced declines across multiple exchanges on Thursday, with Chicago SRW contracts falling by 3 ¾ to 6 ¾ cents. Kansas City HRW futures witnessed losses ranging from 5 to 8 ½ cents, while MPLS spring wheat decreased by 1 to 3 ½ cents.
The most recent export sales data revealed that 325,935 metric tons (MT) of wheat were sold for the 2026/27 season in the week ending September 10, marking a three-week high but still 14.65% lower than the same week last year. The Philippines led purchasing countries with 189,600 MT bought, followed by Mexico with 70,300 MT and South Korea with 51,500 MT.
Additionally, SovEcon estimates that total wheat exports from Russia and Ukraine will reach 8 million MT from July to September this year, a significant decline from 16.4 million MT during the same period last year. Turkey has proposed a deal to halt Black Sea strikes affecting wheat exports, but no response has been given so far.
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