Wheat is trading with 6 to 8 cent gains on Monday morning. The wheat complex saw weakness across the three exchanges heading into the weekend. Chicago SRW were 6 to 13 cents lower across the board, as December was 11 cents lower from last Friday. KC HRW futures was down 2 ¼ to 10 ¾ cents on the session, with December 14 ¾ cents lower over the course of the week. MPLS spring wheat was 4 ¼ to 11 ¼ cents in the red with December down just 3 ¾ cents for the week.
Money was coming off the table on Friday, in a risk off approach, but coming back in this morning as Ukraine renewed attacks on Russian energy infrastructure. Exports out of the Black Sea are still limited from Russian and Ukraine despite recent calls for deescalation.
