Wheat is showing modest gains on Monday morning. The wheat complex wound up lower across the three markets on Friday. Chicago SRW contracts was mixed, down ¼ to 5 cents higher on the day, as December was 21 ½ cents lower on the week. Open interest was down 1,901 contracts on Friday. KC HRW futures were down a penny in the front months and higher in the deferreds, with December down 20 ¼ cents last week. MPLS spring wheat was fractionally to a penny lower on the session and down 17 ¾ for the week.
CFTC’s weekly Commitment of Traders report indicated managed money in Chicago wheat futures and options adding another 23,725 contracts to their net short position as of Tuesday, holding a net short of 74,859 contracts. As of October 27th, spec funds flipped to a net short of 1,865 contracts, a move of 8,260 contracts on that week.
Export Sales data from Thursday took the total export commitments for wheat to 11.626 MMT, which is now down 29% from last year. That is 57% of the USDA export projection, lagging the 65% pace from the 5-year average.
The FranceAgriMer estimate the country’s wheat crop at 62% planted as of 10/26, lagging the 67% pace from last year. The European Commission estimates the EU wheat crop for 2026/27 at 123.7 MMT, a 0.5% MMT cut from last month. The Buenos Aires Grain Exchange estimates the Argentina wheat crop at 6.7% planted, ahead of average for early in the season.
Dec 26 CBOT Wheat closed at $6.03 1/2, down 1/4 cent, currently up 2 cents
Mar 27 CBOT Wheat closed at $6.17, down 1/4 cent, currently up 1 3/4 cents
Dec 26 KCBT Wheat closed at $6.44 1/4, down 1 cents, currently up 4 1/4 cents
Mar 27 KCBT Wheat closed at $6.53 3/4, down 1 cent, currently up 3 1/2 cents
Dec 26 MIAX Wheat closed at $6.24 3/4, down 3/4 cent, currently up 1 1/4 cents
Mar 27 MIAX Wheat closed at $6.42 3/4, down 1/2 cent, currently up 1/2 cent
On the date of publication, Austin Schroeder did not directly have a position in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.