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Just caught the grain rally on Thursday and wheat was leading the charge. Chicago SRW futures jumped 12 to 16 cents, Kansas City HRW moved 13 to 20 cents higher, and Minneapolis spring wheat climbed 6.5 to 10.5 cents. Looks like crude oil's strength spilled over some support into the complex.
Export numbers from Thursday morning caught my eye though. Only 203,100 MT of wheat sold for the week ending 2/26, which is down pretty significantly from the week before and way below last year's pace. Mexico was the main buyer at 74,500 MT and Indonesia took 72,000 MT. New crop wheat saw some action with 55,000 MT heading to Thailand.
Canada's planting report came in this morning showing 26.74 million acres expected for spring wheat, right around where people were looking for. Spring wheat specifically was at 18.78 million acres. The contract closes look solid - March CBOT wheat closed at 5.82 3/4 up 16 cents, May at 5.83 3/4 up 15.5 cents. Kansas City March finished 5.85 1/4 up 20 cents, May at 5.92 1/2. Minneapolis March wheat at 6.08 up 9.25 cents, May at 6.20 1/2 up 10.25 cents. Decent momentum in wheat futures across the board.