Caught some solid wheat action on the board yesterday. Chicago SRW was running 12-16 cents higher, KC HRW pushing 13-20 cents up, and Minneapolis spring wheat gaining 6.5 to 10.5 cents. Crude oil rally definitely helped carry some momentum into the grain complex.

Export numbers came in pretty light though - only 203,100 MT of wheat moved in that week. Mexico grabbed the biggest piece at 74,500 MT, Indonesia took 72,000 MT. That's down over 40% year-over-year, which is something to watch. New crop wheat going to Thailand accounted for 55,000 MT of the total.

Canada's planting intentions data showed 26.74 million acres of wheat expected this spring - slightly above what people were guessing. Spring wheat specifically came in at 18.78 million acres. With CBOT March wheat closing at $5.82 3/4 (up 16 cents) and May at $5.83 3/4, the market seems to be pricing in some tightness. KC March was even stronger at $5.85 1/4, up 20 cents, with May sitting at $5.92 1/2.

Worth keeping an eye on - when you see wheat and the broader grain complex moving like this alongside crude, there's usually something shifting in the supply-demand picture. The export weakness is a bit of a headwind though.