The wheat complex is trading higher, with Chicago SRW futures up 4 to 5 cents and KC HRW futures up 5 to 6 cents. MPLS spring wheat is also up 1 to 2 cents. Export Inspections data shows a 28.2% increase in wheat shipments, with top destinations including Mexico, Japan, Thailand, and China. Marketing year shipments have increased by 22.89% year over year.

Export Sales data revealed 381,532 MT of wheat sold in the week ending on 12/4, slightly below analysts’ expectations but 31.46% higher than the same week last year. CFTC data showed spec traders in CBT wheat futures and options increasing the net short position, while managed money in KC wheat trimmed their net short position.

Algeria has issued a tender for 50,000 MT of durum wheat. Wheat futures are trading higher, with Mar 26 CBOT Wheat at $5.14, May 26 CBOT Wheat at $5.25 1/4, Mar 26 KCBT Wheat at $5.20 3/4, May 26 KCBT Wheat at $5.33 1/2, Mar 26 MGEX Wheat at $5.79 1/2, and May 26 MGEX Wheat at $5.90 1/4.

Read more at Yahoo Finance: Wheat Pushing Higher as Exports Tick Up