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Wheat Mostly Weaker on Monday Morning![]() The wheat market is trading with weaker winter wheat action on Monday morning. Wheat bulls were trying their best to put in some sort of bottom, as futures rallied across the three exchanges on Friday. Chicago SRW futures were up 11 to 12 cents at the close on Friday, with weekly move of 2 cents lower for July. There were 4 deliveries issued against May CBT wheat, all by an ADM customer. Kansas City HRW futures were 12 to 14 cents in the green to round out the session, with a loss of 9 ¾ cents last week. There were 5 deliveries issued against May KC wheat. Minneapolis spring wheat futures broke out with 14 to 16 cent gains, as July was up 4 ¾ cents on the week. The Friday afternoon Commitment of Traders report showed a total of 31,486 contracts added to the spec net short in CBT wheat futures and options. That took their net short to 121,415 contracts, the largest since May 2023. In KC wheat, managed money added 10,645 contracts to a record net short of 67,269 contracts. Taiwan mills purchased a total of 68,650 MT of wheat from the US overnight. French soft wheat ratings were steady at 74% good/excellent according to the FranceAgriMer, steady with the week prior. May 25 CBOT Wheat closed at $5.26 1/2, up 11 1/4 cents, currently unch Jul 25 CBOT Wheat closed at $5.43, up 12 cents, currently down 4 cents May 25 KCBT Wheat closed at $5.28 1/2, up 12 1/2 cents, currently down 1/2 cent Jul 25 KCBT Wheat closed at $5.41 1/4, up 13 3/4 cents, currently down 6 cents May 25 MGEX Wheat closed at $6.16 1/2, unch, currently unch Jul 25 MGEX Wheat closed at $6.11, up 15 1/2 cents, currently up 1 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. |
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