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Austin Schroeder

Wheat Rallying on Thursday

Chicago SRW KC MPLS CBOT KCBT MIAX

The wheat complex is rallying on Thursday across the three markets. Chicago SRW futures were up 5 to 8 cents in the front months. KC HRW futures are in rally mode, up 18 cents in the nearbys. MPLS spring wheat are 5 to 7 cents higher on the day.

Weekly Export Sales from this morning showed, with old crop business seen at 129,022 MT for the week of April 16, which was in the range of 0 to 250,000 MT. That was up from the previous week. New crop sales were just 8,000 MT, falling shy of the trade estimated range of 100,000 to 300,000 MT.

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