Wheat Complex Falls Across Board on Thursday

The wheat complex saw losses across the board on Thursday, according to data from Barchart. Chicago SRW contracts led the decline, down 1 1/2 to 11 cents. Kansas City HRW futures were also lower, with contracts down 10 to 13 ¾ cents in the front months and 3 to 5 ½ cents lower in the deferreds. Minneapolis spring wheat futures closed at a loss of 12 1/2 to 16 ¼ cents.

The US Department of Agriculture reported export sales data for the week ending July 30, showing a total of 296,427 MT sold. This is the highest level of sales in four weeks but still represents a 59.82% decrease from the same period last year. The Philippines was the largest buyer, purchasing 87,800 MT.

Europa estimates the EU wheat crop at 126.8 MMT, down 1.5 MMT from their previous estimate. Meanwhile, a South Korean mill importer purchased 36,800 MT of US wheat on Thursday. CBOT Wheat futures for September and December closed lower, with the September contract settling at $6.31 1/4 and the December contract closing at $6.50 1/2.