Wheat futures on the Chicago Board of Trade were up at midsession on Wednesday, rising to fresh two-month highs on continued technical buying by commodity funds, traders said.
As of 11:25 am CST (1725 GMT), CBOT March wheat was up 2-3/4 cents at $3.42-1/2 per bushel. Deferred months were up 2 to 4 cents.
Calyon Financial was the featured buyer of about 2,000 March contracts, traders said.
Funds remain net short CBOT wheat, although their net short position has been shrinking after a roughly two-week buying spree. Meanwhile, CFTC data shows funds have been building their net long positions in Kansas City and Minneapolis wheat.
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