Wheat futures are showing Monday morning losses in the three main markets. The complex posted losses across the three exchanges on Friday. Chicago SRW futures saw fractional to 2 ½ cent losses on the day, as December closed out the week down a penny. KC HRW contracts were 1 to 2 ¾ cents lower across the board, with December slipping 5 ¼ cents. MPLS spring wheat led the way lower on Friday, with losses 4 ½ to 7 cents, as December was 5 ½ cents in the red for the week.
Wide spread heavy precip totals fell over the weekend in parts of the Southern Plains, from the TX panhandle through eastern KS, MO and parts of IA/WI.
Friday afternoon’s CFTC Commitment of Traders report tallied spec funds in Chicago wheat at a net short of 31,172 contracts by October 29. That was a 2,257 contract increase on the week. In KC wheat, they were adding 3,513 contracts to their net short at 9,160 contracts as of Tuesday.
Egypt’s GASC issued a tender for wheat over the weekend, with a Monday deadline and no US offers
Dec 24 CBOT Wheat closed at $5.68, down 2 1/2 cents, currently down 1 3/4 cents
Mar 25 CBOT Wheat closed at $5.87 3/4, down 2 1/2 cents, currently down 2 1/4 cents
Dec 24 KCBT Wheat closed at $5.66 3/4, down 2 1/2 cents, currently down 4 cents
Mar 25 KCBT Wheat closed at $5.80 1/4, down 2 3/4 cents, currently down 4 1/4 cents
Dec 24 MGEX Wheat closed at $5.99 3/4, down 4 1/2 cents, currently down 1 3/4 cents
Mar 25 MGEX Wheat closed at $6.23 1/4, down 5 cents, currently down 1 1/2 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.
