On Thursday, the wheat complex saw gains across most contracts, with Chicago SRW futures up 4 ¾ cents and KC HRW futures leading the charge, rising by 11 to 17 ¼ cents. The close for May 26 CBOT wheat was $5.98 ½, while July 26 closed at $6.06 ½. MPLS spring wheat also experienced an increase, finishing 10 ¼ to 12 ¾ cents higher.
Export Sales data released this morning indicated 100,318 metric tons of old crop wheat were sold during the week of April 9, a 38.68% decline from the previous week but a 31.14% increase from the same period last year. Key buyers included Nigeria (52,400 MT) and Vietnam (34,800 MT). Additionally, Taiwan mill importers issued a tender for 105,950 MT of U.S. wheat due next Thursday, while Algeria purchased an estimated 400,000 MT of durum wheat in a tender on Wednesday.
