The wheat complex is trading with another round of strength on Thursday. Kansas City is up 8 to 9 cents at midday. Chicago contracts are 7 to 8 cents higher. MPLS spring wheat is up 6 to 8 cents on the day.

All wheat sales for old crop were tallied at 82,035 MT during the week of April 18. That was a 4-week high and well above the previous week’s total. Of that 72,200 MT was to China, with most switched from unknown. New crop bookings totaled 371,853 MT in that week, on the high end of the trade estimates. 

On this week’s export front, Taiwan bought 106,675 MT of US origin wheat in this week’s tender. Algeria also purchased 1 between 100,000-200,000 MT of durum wheat on Thursday. 

Portions of the HRW wheat country from western Kansas down to the Texas panhandle are expected to miss out on the widespread rain event over the next week in the central US, with minimal amounts expected. Eastern Ukraine and parts of Russia are also seeing net declines in soil moisture over the next week, on top of already dry conditions. 

May 24 CBOT Wheat  is at $6.02, up 7 1/2 cents,

Jul 24 CBOT Wheat  is at $6.20, up 7 cents,

May 24 KCBT Wheat  is at $6.33, up 8 3/4 cents,

Jul 24 KCBT Wheat  is at $6.39, up 9 cents,

Jul 24 MGEX Wheat  is at $6.93 1/2, up 8 cents,