Wheat is seeing a slight recovery on Thursday AM, with contracts higher across the three markets. The wheat complex continued the downtrend on Wednesday, with losses across the three exchanges. Chicago SRW futures fell 11 to 15 ¾ cents into the Wednesday close. Open interest was up 6,945 contracts on Wednesday. KC HRW futures closed with 7 ¼ to 10 ¾ cent losses on the day. MPLS spring wheat was down 9 to 10 3/4 cents on Wednesday.
USDA Export Sales data will be out this morning, as traders are looking for 200,000 MT in net reductions for old crop to net sales of 100,000 MT. Sales for 2026/27 are estimated to total 250,000 to 600,000 MT.
