Wheat is showing gains across the three markets so far on Friday morning. The wheat complex joined in the on the gains across the grains on Thursday. CBT soft red wheat futures were 5 to 6 cents in the green on Thursday. Open interest suggested a rotation of ownership, down just 4 contracts. KC HRW futures were up 3 to 4 cents on the day. Preliminary OI was up 1,371 contracts on Thursday. MPLS spring wheat futures took back Wednesday weakness, with gains of 3 to 4 cents.
Some spillover support from gains in the other grains was supportive to the wheat complex.
Taiwan flour mill importers purchased a to the of 80,550 MT of wheat from the US overnight.
Dec 25 CBOT Wheat closed at $5.14 3/4, up 5 1/2 cents, currently up 2 3/4 cents
Mar 26 CBOT Wheat closed at $5.32 1/2, up 5 cents, currently up 2 1/2 cents
Dec 25 KCBT Wheat closed at $4.99, up 3 1/2 cents, currently up 2 1/4 cents
Mar 26 KCBT Wheat closed at $5.20, up 3 1/4 cents, currently up 2 1/4 cents
Dec 25 MGEX Wheat closed at $5.61 1/2, up 3 1/2 cents, currently up 1 1/4 cents
Mar 26 MGEX Wheat closed at $5.80 1/4, up 3 cents, currently unch
