Wheat Jul '19 (ZWN19)
Wheat Futures Market News and Commentary
Friday gains in the wheat market were not enough to erase the earlier drops. SRW wheat futures gained 7 1/2 cents, but were down 22 cents wk/wk. May KC wheat was up 8 cents on Friday, but down 13 3/4 cents wk/wk. Spring wheat futures were 5 1/2 cents higher on the day, but down 9 3/4 cents from Friday to Friday. In the weekly update from the CFTC, managed money was 35,971 contracts net long for SRW wheat. The 18,301 contract increase to their position came via mostly new buying interest. In KC wheat managed money flipped back to net long after 4 weeks of net short. MPLS spec traders were still net short but reduced the position 17.5% to 13,445 contracts.
May 20 CBOT Wheat closed at $5.49 1/4, up 7 1/2 cents,
May 20 KCBT Wheat closed at $4.72, up 8 cents,
May 20 MGEX Wheat closed at $5.24 1/2, up 5 1/2 cents,
--- provided by Brugler Marketing & Management
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