Front-month wheat futures on the Chicago Board of Trade settled flat on Thursday, trailing advances in Kansas City hard red winter and MGEX hard red spring wheat futures tied to improving export demand, traders said. CBOT May wheat ended unchanged at $4.36 per bushel. K.C. May hard red winter wheat finished up 2-3/4 cents at $4.50 a bushel and MGEX May spring wheat rose 7-1/2 cents at $5.48.
The US Department of Agriculture reported weekly export sales of old-crop US wheat at 264,400 tonnes and new-crop sales of 74,200 tonnes, at the low end of trade expectations. However, through its daily reporting system, the USDA said private exporters sold 120,000 tonnes of US hard red winter wheat to Algeria for 2016/17 delivery.