On Thursday, wheat futures continue to rise, with Chicago SRW futures increasing by 3 to 4.25 cents, and KC HRW futures up by 6 to 7 cents in the front months. The MPLS spring wheat saw a smaller increase, rising by 1 to 2 cents at midday.
Weekly export sales reported 397,245 metric tons (MT) of wheat bookings for the week ending March 19, surpassing trade estimates of 100,000 to 400,000 MT, and more than doubling the figures from the previous week. New crop sales also exceeded expectations at 205,750 MT, though this reflects a decline from last week.
Looking ahead, March intentions data is anticipated on Tuesday, with projections estimating wheat planting at 44.79 million acres for the year, down 544,000 acres from the previous year.
