On Thursday, May 26, wheat futures experienced a significant downturn, with Chicago SRW futures losing between 4 ¼ to 8 cents. Kansas City HRW futures saw a sharper decline, down 19 ½ to 21 cents, while MPLS spring wheat dropped 13 to 19 ½ cents across most contracts.
The USDA reported old crop export sales of 78,772 MT for the week ending April 30, marking the second lowest total of the marketing year. Notably, Vietnam purchased 67,400 MT, while Thailand and Mexico bought 53,700 MT and 40,000 MT, respectively. New crop sales reached 187,538 MT, the fourth largest of the marketing year, with much of it sold to unknown buyers.
Additionally, Algeria tendered for an estimated 390,000 to 420,000 MT of wheat. The Russian wheat export total for the 2025/26 year has been revised down to 44.5 MMT. FranceAgriMer reports that 80% of the French soft wheat crop is rated good/excellent, a slight decline from the previous week.
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