The wheat market saw notable increases on Wednesday, with Chicago SRW futures rising by 3 to 4 cents, KC HRW futures up by 4 to 5 cents, and MPLS spring wheat increasing by 3 cents. Weekly Export Sales data, scheduled for release on Thursday, is anticipated to show sales between 200,000 and 450,000 metric tons for old crop wheat, while new crop estimates range from 0 to 60,000 metric tons.
Significant international purchases included a South Korean tender of 32,000 metric tons and a Taiwanese tender for 105,020 metric tons of U.S. wheat. Additionally, French soft wheat stocks were reported at 3.39 million metric tons, an increase of 340,000 metric tons from previous figures.
As of March 26, various wheat futures closed as follows: CBOT Wheat at $5.88 1/2, May CBOT Wheat at $5.94 3/4, KCBT Wheat at $6.01 1/2, May KCBT Wheat at $6.13 1/2, MIAX Wheat at $6.25 1/4, and May MIAX Wheat at $6.38.
