On Wednesday, wheat futures declined across the board, with Chicago SRW futures falling by 1 to 2 cents, KC HRW futures dropping 4 to 5 cents, and MPLS spring wheat decreasing by 2 to 3 cents. Large world supplies are contributing to this downward trend.
As analysts await the release of export sales data on Thursday, expectations are set between 300,000 to 600,000 metric tons of wheat sales for the week of January 29. Closing prices included: March 26 CBOT Wheat at $5.26 3/4 (down 2 cents), May 26 CBOT Wheat at $5.36 1/4 (down 1 1/2 cents), March 26 KCBT Wheat at $5.30 1/4 (down 4 1/2 cents), and May 26 MIAX Wheat at $5.80 1/2 (down 2 cents).
