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The wheat market is experiencing a downturn on Wednesday, with all three major futures markets reporting losses. Chicago SRW futures decreased by 3 to 5 cents, while KC HRW futures fell by 4 to 5 cents, and MPLS spring wheat dropped by 2 to 4 cents. Current prices for March and May contracts are $5.65 and $5.68¾ for CBOT wheat, $5.50¼ and $5.62 for KCBT wheat, and $5.77¼ and $5.92¼ for MIAX wheat, respectively.
Additionally, Algeria made a significant purchase of approximately 600,000 MT of wheat in a tender on Tuesday. Meanwhile, Russia’s wheat export estimate for the 2025/26 season has been revised down by 0.3 MMT to 45.4 MMT, as reported by SovEcon. Weekly Export Sales data set to be released in the week of February 19 is anticipated to show old crop wheat sales between 250,000 and 500,000 MT, while new crop sales are expected to range from 0 to 50,000 MT.
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