Wheat futures showed mixed movements on Thursday, with Chicago SRW futures gaining 2 to 3 cents across most contracts, while Kansas City HRW contracts increased by 1 to 2 cents. Minneapolis spring wheat futures saw July contracts rise by 1.75 cents, while other contracts decreased. As of midday, contracts were close to unchanged overall.
The USDA reported a net reduction of 49,114 metric tons in export sales for the last week of the 2024/25 marketing year, significantly lower than analyst estimates of 100,000 to 200,000 metric tons. New crop sales totaled 444,857 metric tons, in the lower half of analyst expectations ranging from 300,000 to 800,000 metric tons. April wheat exports reached 2.198 million metric tons, the highest in four years and 22.17% larger than March totals.
Latest closing prices include: Jul 25 CBOT Wheat at $5.45 1/2 (up 2 1/4 cents), Sep 25 CBOT Wheat at $5.59 3/4 (up 2 1/2 cents), Jul 25 KCBT Wheat at $5.42 1/2 (up 2 cents), and Jul 25 MGEX Wheat at $6.25 1/4 (up 1 3/4 cents).
