The wheat complex is trading with double digit gains across the three exchanges on Thursday. Chicago SRW futures are up 13 to 14 cents at midday. KC HRW futures are 17 to 19 cents in the green on Thursday. MPLS spring wheat is 10 to 11 cents higher so far on the session.
Export Sales data from Thursday morning showed just 203,100 MT of wheat sold in the week ending on 2/26, on the low end of trade estimates ranging from 200,000 to 500,000 MT. That was down 16.41% from last week and 40.04% below the same week last year. New crop business was at 55,000 MT, in the middle of the estimated 0-100,000 MT.
Statistics Canada planting intentions data from this morning showed a total of 26.74 million acres of wheat expected this spring, slightly above estimates. Spring wheat was tallied at 18.78 million acres, slightly below 2025.
Mar 26 CBOT Wheat is at $5.80, up 13 1/4 cents,
May 26 CBOT Wheat is at $5.81 1/4, up 13 cents,
Mar 26 KCBT Wheat is at $5.70, up 4 3/4 cents,
May 26 KCBT Wheat is at $5.91, up 18 1/2 cents,
Mar 26 MIAX Wheat is at $6.09 1/4, up 10 1/2 cents,
May 26 MIAX Wheat is at $6.19 1/2, up 10 1/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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