The wheat market is experiencing broad-based weakness across U.S. exchanges on Wednesday, with Chicago SRW futures down 3 to 4 cents, Kansas City HRW contracts falling 10 to 13 cents, and Minneapolis spring wheat dropping 3 to 4 cents midday. While wheat showed mixed trading on Tuesday, Kansas City led gains earlier, but current selling pressure has reversed trajectories. Upcoming USDA Export Sales data on Thursday will provide further market direction, following last week’s second-highest wheat sales for the Marketing Year. Meanwhile, Turkey has authorized duty-free wheat imports for milling purposes to support flour exports. Key midday prices include: May 25 CBOT Wheat at $5.62, down 3 cents; July 25 CBOT Wheat at $5.78¾, down 3¼ cents; May 25 KCBT Wheat at $5.94, down 12¼ cents; July 25 KCBT Wheat at $6.08½, down 10½ cents; May 25 MGEX Wheat at $6.10¾, down 3¼ cents; and July 25 MGEX Wheat at $6.26½, down 3¾ cents.
