Wheat is trading with mixed action early on Thursday, with modest gains in the winter wheats and slipping back in the spring wheat. The wheat complex led the grain rally again on Wednesday as the KC complex led the way to fresh highs. Chicago SRW contracts were the highest since 2024 on the front month continuation chart, up 21 to 27 ¾ cents in the front months. Open interest was up 6,053 contracts on Wednesday. KC HRW futures led the rally to the highest spot level since August 2023, 21 to 30 ½ cents higher. OI was up 2,054 contracts. MPLS spring wheat posted 16 to 24 3//4 cent gains.
Export Sales data from FAS will be released on Thursday as traders surveyed by Reuters are looking for net 2026/27 sales in a range of 200,000 to 550,000 MT.
