Wheat futures are experiencing losses in morning trading on Friday following gains across all exchanges on Thursday. Chicago SRW futures closed up 15 1/4 cents at $5.52 1/2, while KC HRW futures increased by 15 ½ cents to $5.54. Open interest fell by 5,730 contracts for Chicago but rose by 5,947 contracts for KC.
In export news, USDA reported wheat sales of 487,998 metric tons for the week ending February 5, which is 30.52% higher than the previous week, but 14.32% lower than the same week last year. The top buyer was the Philippines with 127,000 MT. Additionally, South Korean mills purchased 50,000 MT of U.S. wheat and 40,000 MT from Canada.
FranceAgriMer estimates that 91% of the soft wheat crop in France is in good/excellent condition, while Russia’s wheat crop for 2026 is projected at 91 million metric tons, an increase of 3 million from earlier estimates.
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