The wheat market faced losses on Thursday, spear headed by the soft red wheat market. CBT prices were 7 to 8 cents per bushel lower. KC contracts were 5 to 6 cents lower, and MPLS spring wheat was mostly 4 to 5 cents lower at the close. A stronger US dollar index was doing the market no favors as Northern Hemisphere harvest supplies are becoming widely available. The spring wheat crop tour begins next week.
USDA released their Export Sales report this morning, with sales coming in the range of traders estimates of 300,000 to 700,000 MT, at 494,400 MT. Mexico and Venezuela were the leading destinations.
