Hard Red Wheat Dec '21 (KEZ21)
Hard Red Wheat Futures Market News and Commentary
Friday’s wheat trading session left the board double digits weaker for the weekend. CBT SRW futures were 7 1/4 to 12 cents lower through the Sep ’22 contract, with March having given back 49 3/4 cents during the week. KC futures closed 11 to 18 cents lower on Friday, with March a net 56 cents lower through the week. MPLS futures went into the weekend with 16 3/4 to 21 3/4 cent losses, which for March added to the 31 1/4 cent net loss for the week. March futures traded with a 64 cent range during the week.
The Commitment of Traders report showed managed money funds were 6,200 contracts net long in Chicago wheat on 11/30. That was an 11,763 contract reduction, fueled by long liquidation, compared to the week prior. Commercial SRW traders were 15,625 contracts less net short on a 56,569 contract lighter OI. In KC wheat, CFTC reported spec traders were 62,368 contracts net long. That was only down 3,241 contracts wk/wk. Managed money was only 931 contracts less net long in MGE wh... Read more
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