The wheat complex experienced mixed trading as of Wednesday’s close, with Chicago SRW contracts climbing 3 ¾ to 10 cents, while KC HRW futures increased by 6 ½ to 14 cents. MPLS spring wheat saw mixed results, with front months down by as much as 1 ¼ cents and deferreds up 3 ½ cents. The September 26 CBOT wheat closed at $6.42 ¼, up 3 ¾ cents; the December 26 CBOT wheat closed at $6.61 ¼, up 4 cents.
Algeria made a significant purchase of approximately 720,000 metric tons of wheat on Wednesday, while concerns persist over export flows from the Black Sea due to escalating Russia-Ukraine conflicts affecting vessels and ports. Weekly Export Sales data, expected on Thursday, forecasts net sales of 2026/27 wheat between 250,000 to 450,000 metric tons for the week of July 30.
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