At the close for the last trade day of the month, wheat futures were double digits higher. SRW prices were up 10 3/4 to 16 cents and KC HRW prices ended 12 to 13 cents higher. Spring wheat futures were 11 1/2 to 14 cents in the black at the close. SRW wheat rallied 22 cents over the month, with a 68.75 cent range. HRW’s monthly change was a net 34.25 cents/bushel. The SRW/HRW premium weakened 12 1/4 cents over the month, but the new crop July spread dropped 17 1/2 cents to 3 1/2 cents. The wheat/corn narrowed fell 29 cents (HRW-Corn) over the course of the month. The CoT report showed managed money was 21,275 contracts net long in SRW as of 1/26. That was a 657 contract increase on the week with lighter spec OI. HRW speculative traders were 2,146 contracts more net long to 60,239 contracts on new buying interest. Managed money also extended their net long in HRS futures and options, up 1,337 contracts to 14,659. Taiwan purchased 85,340 MT of U.S. wheat in a tender. Jordan is tendering for 120,000 MT of wheat.

--- provided by Brugler Marketing & Management