Wheat is starting the midweek session with contracts higher across the three exchanges. The wheat complex failed to hold the Tuesday gains into the close. Chicago SRW futures were 2 to 3 cents lower on Tuesday. Open interest was up 7,955 contracts on Tuesday. KC HRW futures saw steady to fractionally higher trade at Tuesday’s close. OI rose 3,964 contracts. MPLS spring wheat closed the day with contracts 4 cent losses.
The next 7 day forecast from NOAA shows 1-2 inches expected for much of SRW country, with very little seen for parts of the Southern Plains, outside of eastern parts of KS.
