Wheat is showing marginal gains on Thursday morning. The wheat complex closed out Wednesday on a mixed note, as winter wheat contracts were pulling off the early lows. CBT soft red wheat futures ended the day higher, with fractional gains to 1 ¼ cents. Open interest was up 13,157 contracts on Wednesday. KC HRW futures were down 2 to 3 cents, with buying off the early session lows into the close. Preliminary OI was 6,101 contracts higher on Wednesday. MPLS spring wheat futures held onto the weakness on Wednesday, with losses of 5 to 6 cents.
The next 7 days looks on the drier side for much of the country, with some exceptions in parts of southern NE and northern KS, which may slow some winter wheat planting.
