The wheat complex held on for marginal gains to head into the long weekend. Chicago SRW futures saw fractional to 2 cent gains on the day, with May down 6 ¾ cents on the week. KC HRW futures were 2 to 3 1/2 cents higher on Thursday, as May fell 17 cents this week. MPLS spring wheat was 3 to 4 ¾ cents in the green, with May up 1 ½ cents this week. Crude Oil was up $11.94 at $112.06, after President Trump’s address the nation on Wednesday night that indicated 2-3 weeks more of strikes and an uncertain fate to the Strait of Hormuz. The market is closed on Friday in observance of Good Friday. The Monday session will have a normal Sunday night open.
Export Sales data from Thursday showed just 23,521 MT of old crop wheat sold in the week of 3/26. That was a marketing year low. Mexico has net cancellations to 56,200 MT, with unknown seeing net reductions of 60,100 MT, likely switched to a destination. New crop business was pegged at 272,839 MT, a marketing year high for the 2026/27 crop year. Mexico was the top buyer of 172,200 MT, with 65,000 MT sold to South Korea.
