Wheat Markets Rally Double Digits

Front month wheat prices bounced back by double digits on Friday. SRW closed 21 1/2 to 26 1/4 cents higher on Friday, which for March was a weekly gain of 34 1/2 cents. KC wheat closed the last trade day of the week 21 1/4 to 23 1/4 cents higher. That left March 38 1/2 cents higher from Friday to Friday. MPLS HRS prices closed with 18 3/4 to 20 cent gains. Which was a weekly move of 48 1/2 cents higher. 

Weekly CFTC data showed CBT spec traders were 3,100 contracts more net short to 29,552 contracts on 2/8. In KC wheat funds were closing their longs for a 3,326 contract weaker net long of 34,473 contracts. For Minneapolis wheat, spec traders were 364 contracts less net long to 3,596 contracts. 

Mar 22 CBOT Wheat  closed at $7.97 3/4, up 26 1/4 cents,

Cash SRW Wheat  was $7.61 1/8, up 26 3/8 cents,

Mar 22 KCBT Wheat  closed at $8.24 1/4, up 23 1/4 cents,

Cash HRW Wheat  was $8.05 1/4, up 23 1/4 cents,

Mar 22 MGEX Wheat  closed at $9.61 1/2, up 19 1/4 cents,