Wheat is higher so far on Friday AM trade. The wheat complex found some renewed strength on Thursday. Chicago SRW futures were 4 ½ to 7 ¼ cents higher in the front months on the day. Open interest was up 2,130 contracts on Thursday. KC HRW futures saw 4 to 9 cent gains on the Thursday session. OI rose 2,090 contracts. MPLS spring wheat was up 4 ¼ to 5 cents in the green at the close.
Weekly Export Sales from Thursday showed 397,245 MT in wheat bookings in the week of March 19. That was more than double the week prior and nearly 4 times the same week last year. The Philippines was the top buyer of 69,700 MT, with 67,800 MT sold to Taiwan, and 63,700 MT to Mexico. New crop sales were tallied at 205,750 MT, which was a slight drop from last week. South Korea was the top buyer of 81,000 MT, with 56,000 MT sold to the Philippines.
