Wheat prices are lower for winter wheat contracts, while spring wheat remains steady. The complex saw gains before the long weekend, with Chicago SRW futures up 7 to 8 cents and KC HRW futures up 9 to 10 cents. MPLS spring wheat saw gains of 2 to 3 cents.

Managed money reduced their net short positions in CBT wheat futures, now at 106,229 contracts. In KC wheat futures, specs were net short 12,781 contracts. Export sales data shows total wheat commitments at 20.392 MMT, 15% above last year, with export shipments at 15.465 MMT.

Saudi Arabia purchased 907,000 MT of wheat in a tender, while Algeria bought an estimated 600,000 MT in a separate tender. CBOT Wheat closed at $5.18 for March, up 7 1/2 cents, while KCBT Wheat closed at $5.27 1/4 for March, up 10 cents. MIAX Wheat closed at $5.65 for March, up 2 1/2 cents.

Read more at Yahoo Finance: Wheat Pulling Back to Come Out of the Long Weekend