Chicago Board of Trade wheat futures were higher at midsession on Wednesday, rebounding from recent declines on light short covering, traders said. "Some people who have been short are a little antsy about being short at these levels. Trying to get a little coverage, there was nothing here to sell," one trader said. Large speculators trimmed their net short position in CBOT wheat last week but remained heavily short overall, the latest CFTC Commitments of Traders report showed.
As of 11:30 am CST (1730 GMT), CBOT March wheat was up 4 cents at $3.00-1/2 per bushel.