Wheat is trading on the lower side of unchanged, with losses across the three exchanges. The wheat markets were trying to pull back to the higher side on Wednesday, though contracts leaked lower at the close. CBT soft red wheat futures were down 1 to 2 cents on the session. Some rotation of ownership was noted with open interest up just 141 contracts. KC HRW futures were fractionally lower at midweek. OI rose 625 contracts on Wednesday. MPLS spring wheat futures saw 2 to 3 cent losses on the day.
The next week is looking to see a drier pattern in the Southern Plains, with light totals moving east and heavier 1-2 inch totals in SRW area.
