The wheat complex saw some double digit gains on Thursday, as a majority of the three exchanges were higher. KC HRW posted a 9 to 10 cent gain across most nearby contracts at the final bell. CBT futures were 9 to 10 cents higher in the front months as well. MPLS spring wheat saw more marginal gains, with contracts up 2 to 5 cents.
USDA showed a total of 737,831 MT of wheat sold in the week ending on July 31, with a heavy focus on HRW (414,312 MT). That exceeded analysts’ estimates and was a MY high. The largest buyer was Nigeria of 185,900 MT, with 165,000 MT sold to Bangladesh and 105,900 MT to Mexico.
