**Wheat Futures Stage Friday Recovery Amid Export Momentum**

Wheat rate today showed notable strength in early Friday trading, with winter wheat contracts leading the rally across major commodity exchanges. After Thursday's selloff hit the complex hard, the market is attempting to stabilize with gains building through the morning session.

**Thursday's Pullback Sets Stage for Rebound**

The wheat complex faced considerable headwinds on Thursday across all three major exchanges. Chicago SRW futures declined 2-3 cents, while Kansas City HRW contracts dropped 5 cents, with Minneapolis spring wheat falling 4-5 cents across the front month positions. Open interest reflected the weakness, with Chicago seeing a 349-contract reduction, though Kansas City bucked the trend with a 1,299-contract increase.

**Export Demand Providing Market Support**

Fresh export data is providing the bullish underpinning for Friday's recovery. Weekly wheat bookings reached 156,255 MT, with unknown destinations absorbing 72,000 MT and the Philippines taking 61,500 MT in significant volume. A South Korean importer added fuel to demand expectations, purchasing 92,300 MT of US wheat during Thursday's tender proceedings.

Global supply dynamics are also shifting. Expana's latest forecast showed EU wheat production climbing by 0.3 MMT to 128.6 MMT, though export projections tightened by 1.2 MMT to 28.8 MMT, suggesting tighter availability for global buyers.

**Current Wheat Futures Pricing**

CBOT wheat contracts are trading with Friday gains: March 26 futures closed Thursday at $5.10½ (down 2 cents) and are currently up 7 cents, while May 26 contracts closed at $5.21½ (down 2¼ cents) with 6½ cents of current gains.

Kansas City HRW futures show stronger recovery momentum: March 26 wheat closed at $5.17¼ (down 5 cents) and currently trades 7¾ cents higher, while May 26 touched $5.28¾ (down 4¾ cents) with 7½ cents of current appreciation.

Minneapolis spring wheat is trading higher as well: March 26 futures closed at $5.63½ (down 4½ cents) and are now up 2 cents, while May 26 closed at $5.74 (down 4¼ cents) with 2½ cents of current gains.

**Market Calendar Note**

Trading will observe the Martin Luther King Jr. Day holiday on Monday, with markets reopening Monday evening, providing a pause for market participants to reassess positions before the next session.