The wheat markets posted Wednesday strength into the close across the three exchanges. Chicago SRW futures were up 5 to 6 cents across the nearbys. Kansas City HRW was 3 to 5 cents higher on the Wednesday session. MPLS spring wheat closed 1 to 3 cents in the green at the final bell.
Export sales data released on Thursday morning is expected to show a range of net reductions of 100,000 MT to net sales of 200,000 MT for old crop. New crop sales are estimated in a range of 0-300,000 MT.
The French soft wheat ending stocks for 2024/25 are estimated at 2.81 MMT, down 0.1 MMT from the previous estimate from the FranceAgriMer. The European Commission tallied the EU soft wheat exports at 16.67 MMT by 4/13, which lags the 25.71 MMT total from last year. Algeria purchased a total of at least 570,000 MT of wheat in a tender on Wednesday.
May 25 CBOT Wheat closed at $5.47 3/4, up 5 3/4 cents,
Jul 25 CBOT Wheat closed at $5.61, up 5 cents,
May 25 KCBT Wheat closed at $5.58, up 5 cents,
Jul 25 KCBT Wheat closed at $5.72 1/4, up 3 3/4 cents,
May 25 MGEX Wheat closed at $6.03 3/4, up 2 1/2 cents,
Jul 25 MGEX Wheat closed at $6.17, up 1 1/2 cents,
