The wheat market experienced declines on Thursday, with Chicago SRW contracts falling by 1.5 to 11 cents, KC HRW futures dropping 10 to 13.75 cents, and MPLS spring wheat losing 12.5 to 16.25 cents. Chicago Board of Trade (CBOT) September wheat closed at $6.31, down 11 cents, while December contracts ended at $6.50, down 10.75 cents.
In export sales data for the week ending July 30, U.S. wheat exports totaled 296,427 metric tons, marking a four-week high, yet still down 59.82% from the same week last year. The Philippines was the largest buyer with 87,800 MT, followed by Mexico at 68,700 MT and Vietnam at 62,000 MT. Additionally, the EU wheat crop estimate was revised down to 126.8 million metric tons, while a South Korean importer bought 36,800 MT of U.S. wheat on the same day.
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