Wheat is mixed to start Friday morning trade, with Chicago leading the way higher. The wheat complex was in rally mode across all three markets on Thursday. Chicago SRW futures closed 12 to 15 cents higher on the day to lead the bull’s charge. Open interest was up 1,934 contracts. KC HRW futures were up 14 to 15 cents at the close. OI rose 2,708 contracts on Thursday. MPLS spring wheat was 8 to 10 cents in the green at the close.

Export sales data set for Friday morning is expected to show between 250,000 MT and 600,000 MT of old crop wheat sales in the week of 2/12.

Monthly International Grains Council data showed wheat stocks down 1 MMT from last month to 282 MMT, which is still 19 MMT above a year ago. 

French soft wheat ratings are pegged at 88% good/excellent according to FranceAgriMer, down 3 points from last week.

Mar 26 CBOT Wheat  closed at $5.59 1/2, up 12 1/2 cents, currently up 4 ½ cents

May 26 CBOT Wheat  closed at $5.66 3/4, up 14 1/4 cents, currently up 3 ¼ cents

Mar 26 KCBT Wheat  closed at $5.65 1/2, up 14 1/2 cents, currently up 3/4 cent

May 26 KCBT Wheat  closed at $5.76 3/4, up 15 cents, currently up 1 ½ cents

Mar 26 MIAX Wheat  closed at $5.83 1/2, up 8 1/2 cents, currently down ½ cent

May 26 MIAX Wheat  closed at $5.95 1/2, up 9 1/2 cents, currently down ½ cent

More news from Barchart

• How Much Lower Will Cotton Prices Go Here?
• Can Cotton Recover as Seasonal Strength Approaches?
• What Grain Bulls Need Now as They Fight to Keep Price Trends Alive
• Bet on Continued Upside in Wheat Prices Now with This 1 Trade Idea