Wheat is higher at Thursday’s midday across the three exchanges. Chicago SRW futures are 6 to 7 cents in the greens so far. KC HRW futures are leading the charge, up 14 to 15 cents so far on the session. MPLS spring wheat is back up 12 to 13 cents at midday.  There was 1 delivery issued for March CBT wheat overnight, with 2 deliveries for March KC wheat.

This morning’s Export Sales release showed the second largest weekly wheat purchase total for the MY at 783,416 MT during the week of March 6. That exceeded the trade’s estimates of 275,000 and 650,000 MT in old crop wheat sales and was more than double the previous week. Panama was the largest buyer of 237,600 MT, with South Korea in for 160,000 MT and unknown destinations buying 113,000 MT. Sales for 2025/26 totaled 82,600 MT, in the middle of estimates ranging from 0-100,000 MT.

Algeria purchased wheat in a tender on Wednesday, with traders estimating anywhere from 500,000 to 650,000 MT bought. IKAR trimmed back their Russian wheat export projection by 1.5 MMT to 41 MMT.

Mar 25 CBOT Wheat  is at $5.51 1/4, up 12 1/2 cents,

May 25 CBOT Wheat  is at $5.61, up 7 cents,

Mar 25 KCBT Wheat  is at $5.61 3/4, up 3 cents,

May 25 KCBT Wheat  is at $5.87 3/4, up 14 3/4 cents,

Mar 25 MGEX Wheat  is at $5.80 1/2, down 2 1/4 cents,

May 25 MGEX Wheat  is at $6.06 1/2, up 12 cents,