Wheat futures traded sharply lower on Thursday. MPLS was 9 3/4 to 10 1/4 cents lower, as CHI was down 7 3/4 to 12 3/4 cents in most contracts. Meanwhile, KC was the weakest, losing 14 cents in the nearby contracts. Wheat export sales were reported at 413,964 MT for old crop sales and 137,175 MT for new crop sales. Total sales were just 0.8% larger than a week ago, but down 11.2% from last year at this time. Weekly shipments totaled 740,762 MT, a 16.8% increase over last week and a 58.3% jump vs. the same week last year. Total commits are at 27.65 MMT, 41% above where they were last year at this point.
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