Wheat is trading with early Thursday morning gains across the winter wheat, with spring wheat steady. The wheat complex closed Wednesday with a slight bounce across the three exchanges. Chicago SRW futures posted 2 cent gains across the front months. Open interest was up 4,478 contracts on Wednesday. KC HRW futures saw 2 to 3 cent higher trade on Wednesday. Preliminary OI was up 2,575 contracts. MPLS spring wheat showed fractional gains at the Wednesday close.
The 7-day forecast from NOAA shows very little precip in the Southern Plains over the next week, with light totals in the SRW area.
