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Wheat futures finished the day up a penny to 3 cents in CHI and MPLS, and up 6 to 7 cents in KC. For the week, front month SRW contracts lost nearly 20 cents (-4.2%), HRW was down 9 cents, while Sept HRS slipped only 4 cents. Sept15 CHI and KC wheat posted new lows at $4.55 1/2 and $4.40 1/4 respectively. CHI wheat managed money accounts increased their net short position as of Tuesday according to the CFTC. Managed money accounts held a net short position of 27,003 contracts as of 9/1. KC accounts increased their net short position as well, this time by 1,385 contracts to a position of 8,395 contracts net short as of Tuesday. Gulf bids CIF SRW eroded a nickel for Jan – Feb shipments in the midday report while the nearby was steady. As a reminder, the markets are closed on Monday, September 7, in observation of Labor Day.
Sep 15 CBOT Wheat closed at $4.57 3/4, up 1 1/4 cents,
Sep 15 KCBT Wheat closed at $4.48 1/2, up 7 cents,
Sep 15 MGEX Wheat closed at $4.86 1/4, up 1 1/2 cents