Wheat Posting Early Wednesday Gains

Group 1 - Wheat trading showed gains in winter wheat contracts, with Chicago SRW futures up by 1 to 2 cents and KC HRW futures up by 6 to 7 cents [1] - The Export Sales report indicated wheat sales of 432,609 MT for the week of December 11, reflecting a 13.39% increase from the previous week [2] - CFTC data revealed an increase of 20,849 contracts in the spec net short for Chicago futures and options, bringing the total net short to 66,918 contracts as of December 16 [3] Group 2 - The EU commission estimated soft wheat exports from July 1 to December 21 at 10.8 MMT, which is below the 11 MMT recorded during the same period last year [3] - The markets will close early for Christmas and reopen on Friday at 8:30 am CST [1]