Wheat futures in the Chicago and Kansas City markets experienced notable losses on Thursday, with Chicago SRW futures declining by 6 to 11 ¼ cents, and KC HRW futures leading with losses of 20 to 22 cents. The USDA’s Export Sales report revealed only 78,772 MT of old crop sales for the week ending April 30, significantly below the 100,000 to 300,000 MT expected by traders, marking the second lowest total for the marketing year.
In other developments, Algeria purchased an estimated 390,000 to 420,000 MT of wheat in a tender on Wednesday. The Russian wheat export forecast for the 2025/26 marketing year was adjusted down to 44.5 MMT by IKAR, while FranceAgriMer reported that 80% of the French soft wheat crop is rated as good/excellent, a decrease of 1 percentage point from the previous week.
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