
Wheat futures faded on Friday with the front month contracts going home 6 1/4 to 9 1/4 cents lower in SRW. For the December contract that completed the week with a 21 1/2 cent loss. KC futures closed down by 5 1/2 to 7 1/4 cents on the last trade day of the week, leaving Dec at a net 23 1/4 cent loss for the week. Spring wheat futures closed 1 3/4 to 5 1/2 cents weaker, with December down by 16 1/2 cents on the week.
CFTC’s weekly CoT report showed managed money firms were selling SRW through the week that ended 10/25. The new shorts extended the group’s net short by 14k contracts to 36,025. In KC wheat the spec traders were closing longs for a 1,644 contract weaker net long of 24,626 contracts. Managed money was shown 3,483 contracts net long for MGE wheat, that was a 326 contract weaker net long through the week.
Buenos Aries Grains Exchange left their Argentine wheat forecast for 22/23 wheat at 15.2 MMT.
Dec 22 CBOT Wheat closed at $8.29 1/4, down 9 1/4 cents,
Mar 23 CBOT Wheat closed at $8.49, down 9 cents,
Cash SRW Wheat was $7.63 5/8, down 9 1/4 cents,
Dec 22 KCBT Wheat closed at $9.25, down 7 1/4 cents,
Cash HRW Wheat was $8.83 1/4, down 7 1/4 cents,
Dec 22 MGEX Wheat closed at $9.45, down 5 1/2 cents,
On the date of publication, Alan Brugler did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.