Wheat Trading with Gains Ahead of Holiday Break

Market Performance - The wheat complex is experiencing gains across three markets ahead of the holiday, with Chicago SRW futures trading 4 to 5 cents higher, KC HRW futures up 3 to 7 cents, and MPLS spring wheat futures increasing by 4 to 5 cents, with December futures up 16 cents [1] - The markets will be closed on Thursday for Thanksgiving, with a hard open at 8:30 CST on Friday and an early close [1] Commitment of Traders Data - Managed money added 14,387 contracts to their net short position in CBT wheat futures and options, bringing the total to 111,743 contracts for the week of October 14 [2] - In KC wheat, managed money added 4,170 contracts to their net short position, totaling 67,704 contracts [2] Import Activity - A South Korean importer purchased a total of 91,300 MT of wheat from the US and 40,000 MT from Canada in their tender [3] Futures Prices - As of the date of publication, the following wheat futures prices were noted: - Dec 25 CBOT Wheat at $5.32 1/4, up 5 cents - Mar 26 CBOT Wheat at $5.43 1/2, up 4 1/4 cents - Dec 25 KCBT Wheat at $5.19 3/4, up 6 1/2 cents - Mar 26 KCBT Wheat at $5.31 3/4, up 3 1/2 cents - Dec 25 MGEX Wheat at $5.96, up 16 cents - Mar 26 MGEX Wheat at $5.85 1/4, up 4 1/2 cents [3]