The wheat complex is lower across the three markets so far on Thursday. Chicago SRW contracts are down 13 to 14 cents in the front months KC HRW futures are leading the charge lower, with contracts down 17 to 18 cents. MPLS spring wheat is trading with contracts 15 to 16 cents in the red at midday.
Fresh Export Sales data was out this morning, with a total of 296,427 MT reported in the week of July 30, which was on the lower side of 250,000 to 450,000 MT estimates. That was a 4-week high for sales, but still 59.82% below the same week last year.
Concerns remain about the flow of exports out of the Black Sea as the Russia/Ukraine conflicts has ramped up attacks on vessels and port in recent weeks. Russia struck a Ukrainian vessel loaded with wheat late on Wednesday.
Expana estimates the EU wheat crop at 126.8 MMT, which was down 1.5 MMT from their previous number. A South Korean mill importer purchased 36,800 MT of wheat from the US on Thursday.
Sep 26 CBOT Wheat is at $6.29, down 13 1/4 cents,
Dec 26 CBOT Wheat is at $6.48 1/4, down 13 cents,
Sep 26 KCBT Wheat is at $6.96, down 17 1/2 cents,
Dec 26 KCBT Wheat is at $7.14, down 17 cents,
Sep 26 MIAX Wheat is at $6.68 1/4, down 15 1/4 cents,
Dec 26 MIAX Wheat is at $6.92, down 16 cents,
