The Kansas Wheat Quality Tour reported an average yield of 38.9 bushels per acre (bpa) on Thursday, marking the lowest average since 2023 and the second lowest since 2018. The total production estimate stands at 218 million bushels (mbu), compared to the USDA’s earlier estimate of 214 mbu.
In related trade data, the USDA reported old crop wheat sales of 133,485 metric tons, significantly higher than the previous week and the same week last year. Major buyers included Indonesia and the Philippines, purchasing 70,000 MT and 56,000 MT, respectively. New crop sales were recorded at 221,143 MT, a 70.36% decrease from the same week last year, with Mexico and the Philippines as major buyers.
Wheat futures prices on the Chicago Board of Trade (CBOT) saw declines, with July closing at $6.58 (down 17.5 cents) and September at $6.71. Kansas City Hard Red Winter (KCBT) July wheat closed at $7.05 (down 19.5 cents), while Minneapolis (MIAX) July wheat settled at $7.03 (down 17.25 cents).
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