The wheat market showed significant gains on Thursday, with Chicago SRW futures rising by 5 to 6 cents and KC HRW futures leading the surge with an increase of 16 to 18 cents. The MPLS spring wheat also saw a midday rise of 10 to 11 cents.
Export Sales data from Thursday revealed that only 100,318 MT of old crop wheat was sold in the week of April 9, falling below estimates of 75,000 to 250,000 MT—marking a 38.68% decrease from the previous week yet a 31.14% year-over-year increase. New crop sales reached 131,000 MT, landing within the estimated range.
Notably, Taiwan mill importers have issued a tender for 105,950 MT of U.S. wheat due next Thursday, while Algeria secured an estimated 400,000 MT of durum wheat in a recent tender.
