Wheat Trading with Wednesday Gains

Core Viewpoint - The wheat complex is experiencing a rally, with significant gains in futures prices attributed to a weaker dollar index providing market support [1]. Price Movements - Chicago SRW futures are up by 13 to 14 cents, with March 26 CBOT Wheat at $5.37 1/2 [2]. - KC HRW futures have increased by 10 to 12 cents, with March 26 KCBT Wheat at $5.43 1/2 [2]. - MPLS spring wheat is trading 4 to 5 cents higher at midday [1]. Market Support Factors - The weakness in the dollar index this week has contributed to the upward movement in wheat prices [1]. Export Sales Expectations - Upcoming Export Sales data is anticipated to show wheat sales for the week ending January 22, with expectations ranging between 275,000 and 600,000 MT in wheat bookings [1].