Wheat is extending the rally to Thursday, with gains across the board. The wheat complex posted marginal gains on Wednesday with contracts higher across the three exchanges. Chicago SRW futures were fractionally to 3 cents higher. Open interest rose 3,976 contracts. KC HRW futures saw 2 ¼ to 3 ¼ cent gains. MPLS spring wheat was 1 to 2 ¼ cents higher.
Export Sales data will be released on Thursday morning, as traders are looking for old crop wheat sales in a range of 75,000 to 250,000 MT during the week ending on April 9. New crop business is estimated to total 75,000 MT to 250,000 MT.
