The wheat complex is pushing higher on Thursday. Chicago SRW futures are up 3 to 7 cents on the day. KC HRW futures are trading with 4 to 6 ¼ cent gains at midday. MPLS spring wheat are up 3 to 4 cents in the front months on Thursday.
The next 7 days look on the drier side for much of the Southern Plains, with the eastern half of the country and SRW area looking wetter.
Weekly Export Sales data from this morning showed a total of 455,439 MT of wheat sold in the week ending on March 5, exceeding trade estimates of between 200,000 and 450,000 MT. That was the largest in 4 weeks, and more than double the previous week. New crop sales were 40,350 MT.
Monthly wheat exports in January were 1.529 MMT (59.2 mbu), which was a 3-year high for January.
Expana trimmed their export forecast for EU soft wheat by 0.5 MMT to 27.1 MMT. Prediction for 2026/27 was up 0.3 MMT to 128.6 MMT.
Mar 26 CBOT Wheat is at $5.88 1/2, up 3 3/4 cents,
May 26 CBOT Wheat is at $6.01 3/4, up 7 cents,
Mar 26 KCBT Wheat is at $6.01 1/2, up 4 3/4 cents,
May 26 KCBT Wheat is at $6.19 3/4, up 6 1/4 cents,
Mar 26 MIAX Wheat is at $6.25 1/4, up 3 cents,
May 26 MIAX Wheat is at $6.41 3/4, up 3 3/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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