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Wheat futures closed mostly lower on the day, but all three classes posted gains on the week. KC added more than 27 cents per bushel since last Friday, and both CBT and MPLS wheat were more than 16 cents higher. USDA reported net weekly export sales of 494,000 MT for the week ending October 9, when trade estimates were for 350,000 to 600,000 MT range. London wheat futures were lower in the 14/15 contracts today. Informa put its 2015 wheat acreage at 56.4 million acres, which is 400K acres less than the 2014/15 USDA estimate in the October WASDE report. Managed money funds were shown getting less short in CBT wheat, and longer in KC wheat. They are currently net short -60,063 contracts in CBT wheat, and net long 9,416 contracts in KC wheat.
Dec 14 CBOT Wheat closed at $5.16, down 1 cent,
Dec 14 KCBT Wheat closed at $6.01 3/4, down 3 1/4 cents,
Dec 14 MGEX Wheat closed at $5.70, down 6 1/2 cents