Wheat futures rose on Thursday morning across all three major exchanges, extending gains from the previous day. Chicago SRW futures climbed 8 to 12.75 cents, while KC HRW futures increased by 4.75 to 10.25 cents. As of the latest close, March 26 CBOT wheat was priced at $5.36, an increase of 12.75 cents, and May 26 CBOT wheat reached $5.44. The gains are supported by a weaker dollar index and an increase in open interest, which rose by 4,552 contracts, indicating new buying interest.
Export sales data released on Thursday is expected to show wheat bookings between 275,000 and 600,000 metric tons for the week ending January 22. However, forecasts suggest limited precipitation in much of the Southern Plains, with only slight moisture expected in eastern areas of the HRW region.
