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Wheat prices experienced slight losses on Friday morning, following previous gains in winter wheat contracts. On Thursday, Chicago SRW futures saw an increase of 2 to 3 cents, while Kansas City HRW futures rose by 4 to 5 cents, particularly in the December delivery. Conversely, Minneapolis spring wheat was down 3 to 4 cents. Open interest in wheat rose by 7,509 contracts on Thursday.
According to USDA Export Sales data released on October 31, wheat sales for the week totaled 505,415 MT, aligning with trader expectations of 250,000 to 650,000 MT and marking a three-week high. Additionally, Statistics Canada updated its wheat production estimate to 39.96 MMT, exceeding earlier expectations of 38.49 MMT and representing a 3.3 MMT increase from September.
As of December 1, FranceAgriMer reported that 99% of the French soft wheat crop is planted, with 96% rated as good or excellent, a decrease of 1 percentage point from the previous week.
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