The wheat complex held on for marginal gains to head into the long weekend. Chicago SRW futures saw fractional to 2 cent gains on the day, with May down 6 ¾ cents on the week. KC HRW futures were 2 to 3 1/2 cents higher on Thursday, as May fell 17 cents this week. MPLS spring wheat was 3 to 4 ¾ cents in the green, with May up 1 ½ cents this week. Crude Oil was up $11.94 at $112.06, after President Trump’s address the nation on Wednesday night that indicated 2-3 weeks more of strikes and an uncertain fate to the Strait of Hormuz. The market is closed on Friday in observance of Good Friday. The Monday session will have a normal Sunday night open.
Export Sales data from Thursday showed just 23,521 MT of old crop wheat sold in the week of 3/26. That was a marketing year low. Mexico has net cancellations to 56,200 MT, with unknown seeing net reductions of 60,100 MT, likely switched to a destination. New crop business was pegged at 272,839 MT, a marketing year high for the 2026/27 crop year. Mexico was the top buyer of 172,200 MT, with 65,000 MT sold to South Korea.
Monthly Census trade data saw a total of 1.94 MMT of wheat shipped in February, a 6-year high for the month and 26.69% above January.
May 26 CBOT Wheat closed at $5.98 1/4, up 3/4 cent,
Jul 26 CBOT Wheat closed at $6.09 1/2, up 3/4 cent,
May 26 KCBT Wheat closed at $6.15 3/4, up 2 cents,
Jul 26 KCBT Wheat closed at $6.31, up 2 3/4 cents,
May 26 MIAX Wheat closed at $6.47 3/4, up 4 3/4 cents,
Jul 26 MIAX Wheat closed at $6.61 1/2, up 3 3/4 cents,
