Wheat Futures PricesFri, Dec 6th, 2013
Latest Brugler Wheat Report
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Wheat futures closed steady to 3 cents lower. The Dec 13 KCBT contract was able to eke out a small gain and finished at $7.05. The latest Commitment of Traders data for the reporting period between Nov 26 – Dec 3 showed managed money decreased their net short position in CBOT wheat by 2,028 contracts bringing their total net short position to 64,013 contracts. The thinly traded Dec 13 MGEX contract was up nearly a dime intraday but settled 3 ¼ lower. Wires reported that Japan purchased 161,000 MT in its weekly tender. Argentine wheat harvest is now 30% completed. The average trade guess for Tuesday has USDA cutting Argentine production to 10 MMT.
InsideFutures Grains News
Due to grow seasons and seasonal fluctuations in wheat supply and demand, wheat futures tend to be highest from August through September, and lowest from January through May. These are not guaranteed trends, however, so traders of wheat futures must stay abreast of fluctuations in wheat prices and wheat quotes. Our up-to-date wheat futures table provides a summary of wheat prices with links to wheat quotes.