The wheat markets experienced gains on Thursday, with CBT soft red wheat futures rising by 1 to 2 cents, KC HRW futures increasing by 2 to 3 cents, and MPLS spring wheat showing mixed results. September futures were down ¾ cent, while December futures were up a penny.
USDA reported total wheat bookings of 519,752 MT for the week ending August 14, marking a 5-week low and a 28.1% decline from the previous week, though still 5.5% higher than the same week last year. Mexico was the leading buyer with 119,500 MT, and South Korea purchased 90,500 MT. Additionally, Taiwan secured 90,200 MT in a separate tender.
The International Grains Council has revised its 2025/26 world wheat output forecast upwards by 3 MMT to 811 MMT, while also increasing consumption by 2 MMT and reducing stocks by 1 MMT to 264 MMT.
