Double Digit Gains for Thursday Wheat
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Front month wheat futures closed the Thursday session with double digit gains led by spring wheat. Minneapolis HRS futures closed 2.25% to 2.52% in the black. SRW wheat futures gained 12 1/2 to 14 1/2 cents on Thursday. HRW futures were 2.05% to 2.41% higher at the close.

Old crop wheat bookings from the weekly Export Sales data release were 81,969 MT during the week ending 4/1. That was down 68% on the week, and below the range of pre-report estimates. HRW bookings made up the largest share of the week’s light old crop sales, with 42% of the total. New crop sales were a stronger than expected 529,850 MT for the week, with white wheat as the largest portion.

Japan purchased 90,815 MT of U.S. and Canadian wheat in their weekly MOA tender. Taiwan also purchased 96,645 MT of U.S. wheat.

Cash SRW Wheat  was $6.01, up 12 5/8 cents,

May 21 CBOT Wheat  closed at $6.28 3/4, up 12 1/2 cents,

Jul 21 CBOT Wheat  closed at $6.30 1/2, up 14 1/2 cents,

Cash HRW Wheat  was $5.45, up 13 3/4 cents,

May 21 KCBT Wheat  closed at $5.76 1/2, up 13 1/4 cents,

Jul 21 KCBT Wheat  closed at $5.83 3/4, up 13 3/4 cents,

May 21 MGEX Wheat  closed at $6.40 1/4, up 15 3/4 cents,

Market Commentary provided by:

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