The wheat market closed out the Friday session with contracts steady to slightly higher. The Chicago SRW market was fractionally higher to 1 ¼ cents on the day. March was 8 cents higher on the week. KC HRW closed with contracts fractionally mixed, as March was down 3 ¼ cents this week. MPLS spring wheat futures are were steady to 2 cents in the green, with March down ¾ cent since last Friday.

The markets and government will be closed on Monday due to Martin Luther King Jr Day, with a normal schedule for Tuesday. 

Commitment of Traders data indicated spec funds adding 5,756 contracts to their nets short position in Chicago wheat futures and options as of Tuesday to 94,393 contracts. In KC wheat, they were at a net short of 37,606 contracts, an increase of 5,748 contracts as of January 14.

The weekly Export Sales report from Thursday morning showed wheat sales in the week of January 9 at 513,424 MT. That brought the marketing year total of sales and shipments to 17.705 MMT, 77% of USDA’s projection and lagging the 85% average sales pace.

Mar 25 CBOT Wheat  closed at $5.38 3/4, up 1 1/4 cents,

May 25 CBOT Wheat  closed at $5.50 3/4, up 1 1/4 cents,

Mar 25 KCBT Wheat  closed at $5.48 1/2, up 1/4 cent,

May 25 KCBT Wheat  closed at $5.58 1/2, unch,

Mar 25 MGEX Wheat  closed at $5.83 1/2, up 2 cents,

May 25 MGEX Wheat  closed at $5.93 1/4, up 1 3/4 cents,