Wheat is showing some strength on Wednesday morning, with contracts up 1 to 5 cents across the three markets. The wheat complex posted Tuesday strength across the three markets. Chicago SRW futures saw 4 to 5 cent gains on the Tuesday session. KC HRW futures were 5 to 6 cents in the green at the close. MPLS spring wheat futures were up 12 ¼ cents in the December contracts, with other months 4 to 5 cents higher. The markets will be closed on Thursday for Thanksgiving, with a hard open at 8:30 CST on Friday. Friday is also first notice day for December futures.
Commitment of Traders data was released on Tuesday afternoon showing the week of October 14, with managed money adding 14,387 contracts to their net short position in CBT wheat futures and options at 111,743 contracts. In KC wheat, they added 4,170 contracts to their net short to 67,704 contracts.
