Wheat prices continued to rise on Thursday, with Chicago SRW futures increasing by up to 3 cents and stronger performance in other markets. Open interest surged by 3,976 contracts across the wheat complex. The May 26 CBOT Wheat closed at $5.93 ¾, reflecting a gain of 1 ¾ cents.
Export Sales data will be released on Thursday, with expectations for old crop wheat sales ranging from 75,000 to 250,000 MT for the week ending April 9. Estimates for new crop business mirror these figures.
In international trade, Taiwan is looking to purchase 105,950 MT of U.S. wheat, while Algeria secured approximately 400,000 MT of durum wheat in a recent tender. French soft wheat exports are projected at 7.1 MMT outside the EU, with domestic shipments expected to reach 7.7 MMT, a slight increase from the previous week.
