Wheat Showing Tuesday Midday Gains

Group 1 - The wheat complex is experiencing gains, with Chicago SRW futures up by 2 cents, KC HRW futures trading 4 to 5.5 cents higher, and MPLS spring wheat showing fractional gains [1] - The USDA Export Sales data indicates all wheat export commitments at 20.108 million metric tons (MMT), representing an 18% increase from the same week last year, which is 82% of the USDA estimate [2] - The European Commission reports 11.18 MMT of wheat exports from July 1 to January 4, showing a decline of 0.17 MMT compared to the same period last year [3] Group 2 - Managed money increased their net short positions in CBT wheat futures and options to 94,626 contracts as of December 30, while in KC wheat, spec funds were net short 18,319 contracts, a reduction of 6,430 contracts from the previous week [2] - Current wheat prices include Mar 26 CBOT Wheat at $5.13 3/4, May 26 CBOT Wheat at $5.24 1/4, Mar 26 KCBT Wheat at $5.26 1/4, and May 26 KCBT Wheat at $5.37 3/4, all showing slight increases [3]