The wheat complex posted mixed action on Wednesday, with HRW holding higher. Chicago SRW futures were down 2 to 3 ¼ cents on the day. KC HRW futures were up 2 to 3 cents at the close. MPLS spring wheat was down 3 cents in the nearby contracts on Wednesday.
USDA reported private export sale cancellation of 132,000 white wheat to China this morning.
Backlogged Commitment of Traders data showed managed money slashing 9,905 contracts from their net short position in the week ending on December 2, with the CBT wheat net short at 43,841 contracts of futures and options. In KC wheat, they were trimming the net short by 4,153 contracts to 17,911 contracts.
A South Korean importer purchased a total of 20,800 MT of wheat to be originated from the US overnight.
Mar 26 CBOT Wheat closed at $5.06 1/4, down 3 1/4 cents,
May 26 CBOT Wheat closed at $5.17 1/4, down 2 1/4 cents,
Mar 26 KCBT…
