Wheat futures pulled back on Thursday after earlier surging to fresh multi-year highs. Chicago SRW contracts closed 8 ½ to 13 cents lower, while KC HRW futures slipped 3 to 10 ¼ cents. MPLS spring wheat saw front months up ½ to 1 cent but back months down 2 to 5 cents. Weekly export sales totaled 290,016 metric tons, up 23.36% from the prior week but less than half the same week last year, with Mexico buying 137,600 metric tons and Taiwan 98,200 metric tons. The annual spring wheat tour estimated an average yield of 48 bushels per acre, below last year's 49.0 but above the five-year average of 45.8.
KC HRW wheat futures slipped 3 to 10 ¼ cents lower.
Wheat futures retreated after hitting multi-year highs, with Chicago SRW contracts closing lower.