Wheat prices increased on Wednesday, with Chicago SRW wheat gaining 15 to 19 cents, closing at $5.56. KC HRW wheat rose by 11 to 12 cents, with Jul 25 contracts closing at $5.22 3/4, while MPLS spring wheat saw increases of 20 to 22 cents, closing at $6.31 3/4. A total of 129 deliveries were made against KC wheat overnight.
Traders anticipate the USDA’s weekly Export Sales report to be released on Thursday, expecting between 200,000 and 600,000 metric tons of wheat sold for the week of June 26. Additionally, President Trump announced a trade deal with Vietnam, which currently accounts for nearly 3% of US wheat export commitments for 2024/25.
