The wheat markets are trying to recover from the Wednesday weakness, as futures try to push higher at midday. Chicago is running low on fuel, with gains limited to just 1 to 3 cents. Kansas City is up 5 to 7 ¼ cents. MPLS is leading the way with 5 to 8 ½ cent gains so far on the day.

USDA’s weekly Export Sales report showed wheat with the second net reduction for the MY, with net cancellations of 93,556 MT. Much of that was due to a net cancellation of 123,700 MT for China and 48,000 MT for unknown destinations. New crop was a 3-week low at 222,016 MT.

Japan purchased 94,612 T of wheat from the US and Canada in their weekly MOA tender, with 34,272 MT US specific.

May 24 CBOT Wheat  is at $5.38 1/4, up 1 1/4 cents,

Jul 24 CBOT Wheat  is at $5.54 3/4, up 2 1/2 cents,

May 24 KCBT Wheat  is at $5.79 1/2, up 6 3/4 cents,

Jul 24 KCBT Wheat  is at $5.76 1/4, up 7 1/4 cents,

Jul 24 MGEX Wheat  is at $6.46 1/4, up 7 cents,