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Wheat futures outshined the other crops today with gains of almost 5 cents to more than 14 cents. On a weekly basis, Chicago was up 7.2 cents and Kansas City 1.2 cents, while Minneapolis was one of just two markets in the red. US exports continue to be priced out of many markets, which has kept exports rather mediocre. Total US export commitments as a % of total projected exports are at 88% vs. the five year average of 90%. The weekly Commitment of Traders Report from the CFTC showed managed money accounts getting more short by a net -5,989 contracts in Chicago wheat, and they reduced their net long in KC wheat by a net -4,460 contracts.
Mar 15 CBOT Wheat closed at $5.17 1/2, up 14 1/4 cents,
Mar 15 KCBT Wheat closed at $5.34 1/2, up 7 1/4 cents,