On Wednesday, the wheat market showed mixed results. Chicago SRW futures fell 4 to 5 cents, while KC contracts rose 2 to 4 cents. MPLS spring wheat experienced a slight decline.
The Bangladesh government has approved a purchase of 220,000 metric tons of US wheat, aiming to alleviate trade tensions. Meanwhile, President Trump announced that tariffs on India will increase to 25% starting August 1, addressing the trade deficit and India’s purchases of Russian crude oil.
Sovecon has revised its estimate for Russian wheat exports in the 2025/26 period to 43.3 million metric tons, an increase from the previous estimate of 38.3 million metric tons.
