The wheat complex was mixed to round out the week with the spring wheat market reverting lower. CBT soft red wheat futures were 2 to 3 cents in the green to close out the week that say September down 8 cents. KC HRW futures managed to close with 2 to 3 cent gains on Friday, as September was 11 ¼ cents lower on the week. MPLS spring wheat slipped back 2 to 3 cents on the day, with September down 6 ¾ cents this week.
Weekly Commitment of Traders data showed managed money adding 8,526 contracts to their net short position in CBT wheat as of Tuesday to 89,295 contracts. In KC wheat specs trimmed back 6,508 contracts from their net short to 50,555 contracts
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Export Sales data from USDA has the full year export business at 11.03 MMT which is the largest for the current week since the 2013/14 MY. That is also 46% of the USDA forecast, which is normally 43% met by now.
Sep 25 CBOT Wheat closed at $5.06 1/2, up 3 cents,
Dec 25 CBOT Wheat closed at $5.27, up 2 1/2 cents,
Sep 25 KCBT Wheat closed at $5.07, up 2 3/4 cents,
Dec 25 KCBT Wheat closed at $5.28 1/2, up 2 1/2 cents,
Sep 25 MGEX Wheat closed at $5.70, down 2 cents,
Dec 25 MGEX Wheat closed at $5.89 1/4, down 2 3/4 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
