Wheat is continuing its climb on Thursday morning, with contracts fractionally to 4 cents higher across the three exchanges. The wheat complex was in rally mode leading to the grains higher on Wednesday, with export concerns out of the Black Sea. Chicago SRW contracts were mostly 26 to 32 1/2 cents in the green at the close. Open interest was up 8,0880 contract, indicating new buying interest. KC HRW futures were 23 ¾ to 42 cents in the front months, after hitting the 45 cent limit during the session. Open interest was up 6,479 contracts. MPLS spring wheat was 22 to 27 1/4 cents higher on the day.
Russia and Ukraine continue to trade strike back and forth in the Black Sea and the Sea of Azov, with Russia striking a vessel and port infrastructure in Odesa. Ukraine struck Russian oil refineries and tankers.
