Wheats Close Friday Up by Double Digits

Wheat futures traded double digits higher on Friday, which pulled the board back to near break even for the week. For SRW, the 14 1/4 to 15 3/4 cent Friday gains in the front months left December 9 3/4 cents in the red wk/wl. KC wheat futures bounced 9 to 15 1/4 cents higher on the last trade day of the week. Dec HRW ended with a net 6 cent gain Friday to Friday. Spring wheats were also up by 10 to 14 1/2 cents on Friday in the front months. For December that closed the week with an 11 1/4 cent gain. 

The CFTC’s weekly report showed managed money funds were 20,386 contracts net short in CBT wheat as of 9/13. That was 1,045 contracts less net short wk/wk on reduced OI. The CoT report had KC spec traders 5,905 contracts more net long after switching shorts back to longs. That left the group 16,992 contracts net long as of 9/13. The funds were shown 151 contracts net short in MPLS wheat, an 887 contract weaker net short through the week. 

Dec 22 CBOT Wheat  closed at $8.59 3/4, up 14 3/4 cents,

Mar 23 CBOT Wheat  closed at $8.74 3/4, up 14 1/4 cents,

Cash SRW Wheat  was $7.94 1/2, up 15 1/2 cents,

Dec 22 KCBT Wheat  closed at $9.35 1/4, up 9 cents,

Cash HRW Wheat  was $8.93, up 9 1/8 cents,

Dec 22 MGEX Wheat  closed at $9.38 3/4, up 10 cents,