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
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,
