Wheat bulls are preparing for a short week early, with Monday AM gains across most contracts. The wheat complex was mixed on Friday, with the KC wheat market being the weakest. Chicago SRW futures were up 1 to 2 cents to round out Friday, as March was 19 ½ cents lower last week. Friday’s open interest showed some slight new buying, up 11,648 contracts. KC HRW futures saw 1 to 2 cent losses, as March was just 2 ¾ cents in the red last week. MPLS spring wheat was 5 to 6 cents higher on Friday, with March closing the week up 2 ¼ cents.
Export Sales data will be released on Monday morning, catching up for the week ending on 12/4, with analysts looking for between 300,000-600,000 MT in wheat sales during that week.
