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The wheat complex is experiencing gains, with Chicago SRW futures trading 4 to 5 cents higher, KC HRW futures up 3 to 7 cents, and MPLS spring wheat futures rising by 4 to 5 cents as of Wednesday. The markets will be closed for Thanksgiving on Thursday, reopening with a hard open at 8:30 CST on Friday, which is also the first notice day for December futures.
On October 14, managed money reported adding 14,387 contracts to their net short position in CBT wheat futures, bringing the total to 111,743 contracts. KC wheat saw an addition of 4,170 contracts, increasing the net short to 67,704 contracts. Additionally, a South Korean importer purchased 91,300 MT of wheat from the US and 40,000 MT from Canada.
Current prices include: Dec 25 CBOT Wheat at $5.32 1/4 (up 5 cents), Dec 25 KCBT Wheat at $5.19 3/4 (up 6 1/2 cents), and Dec 25 MGEX Wheat at $5.96 (up 16 cents).
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