Wheat is showing very little price movement early on Wednesday, with most contracts within a penny of unchanged. The wheat market fell lower into the Tuesday close. CBT soft red wheat futures were 4 to 5 cents in the red. Open interest was up 2,885 contracts on Tuesday. KC HRW futures posted losses on the day, with contracts to 4 to 5 cents lower. MPLS spring wheat futures were down 3 to 4 cents across the nearbys.
There is 1 to 3 inches of rain across parts of the winter wheat area over the next week, centered in parts of the eastern portions of the Southern Plains.
