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.
