The wheat complex saw gains on Friday, with CBT soft red wheat futures up 2 to 3 cents and KC HRW futures up 4 to 5 cents. MPLS spring wheat also saw a slight increase. Spec traders increased their net short position in Chicago wheat futures and options, while trimming it in Kansas City futures and options.

USDA’s monthly WASDE report showed no changes to the demand side of the balance sheet, but exports were raised by 25 mbu to 900 mbu. The world balance sheet saw a 3.98 MMT increase in stocks, with major increases in production in Russia, the EU, Canada, Ukraine, and Australia. The US cash average price was reduced by 20 cents to $5.10.

CBOT and KCBT wheat closed higher on Friday, with Dec 25 CBOT Wheat closing at $5.23 1/2, up 2 cents, and Dec 25 KCBT Wheat closing at $5.14 3/4, up 4 3/4 cents. MGEX wheat also closed higher, with Dec 25 MGEX Wheat closing at $5.72 3/4, up 1/4 cent.

Read more at Yahoo Finance: Wheat Sneaks Out Gains Heading into the Weekend