Wheat Trading with Gains Ahead of Holiday Break

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The wheat complex is showing gains across the three markets ahead of the holiday. Chicago SRW futures are trading 4 to 5 cents higher so far on Wednesday. KC HRW futures are 3 to 7 cents in the green on the day. MPLS spring wheat futures are up 4 to 5 cents with December 16 cents highr. The markets will be closed on Thursday for Thanksgiving, with a hard open at 8:30 CST on Friday and an early close. Friday is also first notice day for December futures.

Commitment of Traders data was released on Tuesday afternoon showing the week of October 14, with managed money adding 14,387 contracts to their net short position in CBT wheat futures and options at 111,743 contracts. In KC wheat, they added 4,170 contracts to their net short to 67,704 contracts.

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A South Korean importer purchased a total of 91,300 MT of wheat from the US and 40,000 MT of wheat from Canada in their tender.

Dec 25 CBOT Wheat  is at $5.32 1/4, up 5 cents,

Mar 26 CBOT Wheat  is at $5.43 1/2, up 4 1/4 cents,

Dec 25 KCBT Wheat  is at $5.19 3/4, up 6 1/2 cents,

Mar 26 KCBT Wheat  is at $5.31 3/4, up 3 1/2 cents,

Dec 25 MGEX Wheat  is at $5.96, up 16 cents,

Mar 26 MGEX Wheat  is at $5.85 1/4, up 4 1/2 cents,

On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com