Wheat is extending some slight gains to Thursday morning trade. The wheat complex was in rally mode on Wednesday, with all three exchanges closing higher. Chicago SRW futures were 6 to 8 cents higher on the session. Preliminary open interest was up 3,596 contracts on Wednesday. KC HRW futures posted 10 cent front month gains on Wednesday. Open interest was up 1,747 contracts. MPLS spring wheat was up 3 to 4 cents on Wednesday.
Export sales data for the week of January 1 will be released on Thursday morning, as analysts are looking for 200,000 to 500,000 MT for 2025/26 wheat sales. Bookings for 2026/27 are seen 0-100,000 MT.
USDA will released their Winter wheat Seedings report on Monday, with analysts surveyed by Bloomberg looking for all winter wheat acreage at 32.4 million acres. HRW is seen at 23 million acres, with 5.9 million estimated for SRW and 3.5 million acres for white wheat.
China’s Vice Premier stated overnight that the winter wheat crop area remains steady though planting conditions in some areas are weak.
Mar 26 CBOT Wheat closed at $5.18, up 7 1/2 cents, currently up 1 ¾ cents
May 26 CBOT Wheat closed at $5.28, up 6 3/4 cents, currently up 2 cents
Mar 26 KCBT Wheat closed at $5.31 1/2, up 10 cents, currently up ¾ cent
May 26 KCBT Wheat closed at $5.43 1/4, up 10 cents, currently up ½ cent
Mar 26 MIAX Wheat closed at $5.71 1/2, up 3 1/4 cents, currently up ¾ cent
May 26 MIAX Wheat closed at $5.81, up 3 1/4 cents, currently up 1 cent
