Wheat Market Sees Early Gains Amid Lower Thursday Trading

The wheat market showed early signs of recovery on Friday morning, gaining between 4 to 7 cents across various contracts.

This comes after a lower trading day on Thursday, where Chicago SRW contracts were down by $1.50 to $11 across the board.

Kansas City HRW futures led the decline in winter wheat, with contracts decreasing by $10 to $13.75 in the front months and $3 to $5.50 in the deferreds.

The Minneapolis spring wheat market saw losses of 12.50 to 16.25 cents at the close on Thursday.

Export Sales data released on Thursday showed a total of 296,427 metric tons sold for the week ending July 30, which is a four-week high but still 59.82% below the same period last year.