Wheat Starting August with Slight Losses
Wheat is down 1 to 4 cents across the front months early on Monday. The wheat complex fell into the weekend, with losses across the three exchanges. Chicago SRW contracts were down 18 ¼ to 24 ¼ cents at the close. September was down 38 ¾ cents on the week, but still 50 cents higher on the month. Open interest was up 6,703 contracts on Friday. KC HRW futures were down 13 3/4 to 23 1/4 cents at the close, as September fell 37 ¾ cents last week but was up 82 ¼ cents during July. OI slipped 492 contracts. MPLS spring wheat was down 11 to 21 ¾ cents on Friday, with September down 24 1/2 cents on the week.
Weekly Commitment of Traders data indicated managed money in CBT wheat futures and options slashing their net short by another 12,469 contracts in the week ending on July 28, taking it to just 6,880 contracts. In KC wheat, they added another 3,289 contracts to their net long, now at 33,233 contracts.
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A South Korean mill has issued a tender to buy 50,000 MT of US wheat with at Tuesday deadline.
The French soft wheat crop was estimated at 65% good/excellent as of July 27, according to the FranceAgriMer, with the harvest listed as complete.
Sep 26 CBOT Wheat closed at $6.39 1/4, down 24 1/4 cents, currently down 1 cent
Dec 26 CBOT Wheat closed at $6.57 1/2, down 24 cents, currently down 1 cent
Sep 26 KCBT Wheat closed at $7.07 1/2, down 23 1/4 cents, currently down 3 cents
Dec 26 KCBT Wheat closed at $7.23 3/4, down 23 cents, currently down 3 cents
Sep 26 MIAX Wheat closed at $6.90 3/4, down 21 3/4 cents, currently down 2 1/4 cents
Dec 26 MIAX Wheat closed at $7.15 1/2, down 21 cents, currently down 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.
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