Kansas City wheat futures traded mixed this morning, with little news to move the market, according to traders. Early weakness was overshadowed by a lack of selling interest, and some short covering came into the market as the day progressed, traders said. There is no real news for the market to rally on today, traders said, although sellers remain reluctant due to the large amount of short positions by the funds in Chicago. Crude oil and gold were both trading lower at midday.
KC May wheat was 5 1/2 cents higher at $4.89 3/4 at midday.
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