The wheat complex fell over the weekend. Chicago SRW contracts closed with losses of 2 ¼ to 3 ¼ cents as July rose 4 ½ cents for the week. KC HRW futures were down between 3 ¾ cents at the close, and July 13 ¾ cents higher this week. MPLS spring wheat posted losses of 1 ¼ to 8 ½ cents on Friday, with July down 1 ¼ cents over the course of the week.
Trader Engagement data showed managed money liquidating more length in the Chicago market, reducing long positions by 16,852 contracts and increasing short positions by 4,684 contracts. Net selling increased by 21,536 contracts to 79,407 contracts as of Tuesday. In Kansas City wheat, hedge funds changed their position to a net short position of 4,543 contracts, in a bearish move of 18,020 contracts.
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FAS released its weekly export sales data with new crop business of 4.591 million tonnes as of June 4 to begin the 2026/27 marketing year. This represents 21.77% of the USDA’s export projection, compared to the five-year average pace of 23.18%.
The French soft wheat crop was estimated at 77% in good/excellent condition according to FranceAgriMer, up one percentage point from the previous week. The durum wheat harvest was 64% gd/ex, 1% less.
July 26 CBOT wheat closed at $5.84 1/2, down 2 1/4 cents.
September 26 CBOT wheat closed at $5.95 3/4, down 2 1/2 cents.
On July 26, KCBT Wheat closed at $6.34 1/2, down 1/4 cent.
September 26 KCBT wheat closed at $6.40 3/4, down 1/2 cent.
July 26 MIAX wheat closed at $6.18 1/4, down 1 1/4 cents.
September 26 MIAX wheat closed at $6.42, down 3 1/2 cents.
As of the date of publication, Austin Schroeder had no (directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are for informational purposes only. This article was originally published on Barchart.com