The wheat complex is trading with gains across most contracts so far on the Thursday session. Chicago SRW futures are 5 to 6 cents higher so far. KC HRW futures is leading the bull’s charge, up 16 o 18 cents in the front months. MPLS spring wheat is up 10 to 11 cents at midday.

Export Sales data will from Thursday morning shows just 100,318 MT of old crop wheat sold in the week of 4/9, on the lower side of estimates of 75,000 to 250,000 MT. That was down 38.68% from last week but up 31.14% from the same week last year.  New crop business was in the middle of the estimated 75,000 MT to 250,000 MT at 131,000 MT.

Taiwan mill importers issued a tender to buy 105,950 MT of wheat from the US, due next Thursday. Algeria purchased an estimated 400,000 MT of durum wheat in a tender on Wednesday. 

May 26 CBOT Wheat  is at $5.99 3/4, up 6 cents,

Jul 26 CBOT Wheat  is at $6.07 1/4, up 5 1/2 cents,

May 26 KCBT Wheat  is at $6.42 3/4, up 17 1/4 cents,

Jul 26 KCBT Wheat  is at $6.54 3/4, up 16 1/4 cents,

May 26 MIAX Wheat  is at $6.50, up 10 1/2 cents,

Jul 26 MIAX Wheat  is at $6.65 1/4, up 11 cents,

More news from Barchart

• Soybean Meal Bulls Spring to Life Supporting Soybean Prices; Cotton Prices Surging
• How Much Higher Can Soybean Meal Prices Go Here?
• Can Cotton Futures Continue to Rally?
• Market Top Alert: How to Trade Cotton Here Before Prices Break Lower