Wheat is up 1 to 4 cents across the three exchanges. The wheat complex is trading with sharp midday gains across the three exchanges. Chicago SRW contracts were 13 ¾ to 22 ½ cents higher across the board on the day. Short covering was noted, with open interest down 18,911 contracts. KC HRW futures posted 14 ½ to 21 ¾ cent gains at the close. MPLS spring wheat was 13 to 15 1/4 cents higher.
On Wednesday, there were Ukrainian drone strikes on Russia’s Novorossiysk port, halting operations at the country’s largest port. Russia responded by striking a vessel in Ukraine’s Odesa port.
